Carlos Slim's America Movil Wins Approval to Acquire Telmex Internacional

On February 11, 2010, Mexico’s competition regulator, the CFC, approved a plan proposed by Carlos Slim’s America Movil, S.A.B. de C.V. (BMV: AMXA to merge with Telmex Internactional S.A.B. de C.V. (BMV: TELINTL) and Carso Global Telecom S.A. de C.V. (BMV: TELECOMA1), two of Slim’s other telecom companies. The proposed merger would have broad implications for Mexico’s telecom sector.

Analysts say a merger would allow America Movil, Mexico’s dominant telecom company to provide Latin American consumers with package deals on internet, cable T.V., and wireless and fixed line telephone service.

Investor Alert: Carlos Slim's America Movil Seeks to Acquire Telmex Internacional

Mexican billionaire Carlos Slim's America Movil, S.A.B. de C.V. (BMV:AMXA), a company that is currently Latin America's largest wireless telephone service provider, filed a statement with Mexico's securities market regulator, the BMV, saying that the company is seeking a merger with Telmex Internactional S.A.B. de C.V. (BMV:TELINTL) and Carso Global Telecom S.A. de C.V. (BMV:TELECOMA1), in order to cut costs and follow a broader industry trend of consolidation.

Carlos Slim's Brazilian Affiliate, Claro, Faces US$1.5M Fine

Mexican press sources reported Anatel, Brazil's telecom regulator has imposed fines on three companies, including a US$1.53 million fine on Claro, an affiliate of Carlos Slim's mega-telecom Telmex (BMV:TELMEXA), for alleged failures in service quality.

Mexican Telecom Telmex International Reports Boost in Profits on Strong Brazilian Demand

Telmex Internacional, S.A.B. de C.V. (BMV:TELINTL), the Mexican telecom controlled by billionaire Carlos Slim, announced that its third quarter profits increased 71% to 2.79 billion pesos, because of successful service expansion in Brazil.