Telmex Sheds Rural Phone Lines, Seeks Parity With Televisa
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Billionaire Carlos Slim’s Telefonos de Mexico SAB is shedding its less profitable phone lines in rural and low-income areas by putting them in a separate business as it seeks equal footing against Grupo Televisa SA.
The split will create Telmex Social, which will provide service in the 46 percent of the country where competitors haven’t entered, the company said yesterday in a filing. Telmex is analyzing whether the split will be a spinoff or will create two units of a holding company, a spokeswoman said.