Telmex share buyback

10 Nov 2005

Mexico’s dominant operator Telmex has said it is setting aside USD930 million for a share buyback. The firm says the proposal will be put before shareholders at a meeting later this month. A Reuters report claims that Telmex shares have been performing well below the market average, with prices up 5% in 2005 compared to a 24% increase on the country’s benchmark IPC index.

Mexico, Telefonos de Mexico (Telmex)