| | |  Business News | September 2009 
Mexico Telmex Freezes Prices for 10th Straight Year
 Noel Randewich - Reuters
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September 10, 2009
Mexico City - Mexican fixed-line telephone operator Telmex said on Wednesday it will freeze prices for a 10th straight year in 2010 as increasing competition pressures the one-time government monopoly.
Telmex, controlled by billionaire Carlos Slim, has 80 percent of Mexico's fixed telephone lines but faces growing pressure from smaller operators like Axtel (AXTELB.MX) and Maxcom (MXCMCPO.MX) as well as from cellphone operator America Movil (AMXL.MX) (AMX.N), also controlled by Slim.
Also, technology changes in recent years have lowered the profitability of long-distance as consumers make use of Web-based services like Skype.
Since 1991, Telmex's (TELMEXL.MX) (TMX.N) prices have fallen 73 percent in real terms, Telmex said in a statement.
In the April-June period of this year, Telmex's revenues declined 3.7 percent compared with the year-ago period.
(Editing by Gary Hill) |
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