TELMEX ANNOUNCES SHAREHOLDER APPROVAL OF SPIN-OFF.
Mexico City, December 21, 2007. Teléfonos de México, S.A.B. de C.V. (TELMEX) (BMV: TELMEX; NYSE: TMX; NASDAQ: TFONY; LATIBEX: XTMXL) announced today that, as part of its strategic initiative to divide TELMEX into two separate companies through the spin-off of all its Latin American and yellow pages businesses to a new independent holding company to be called TELMEX Internacional, S.A.B. de C.V. (“TELMEX Internacional”), its shareholders today approved the spin-off at a shareholders meeting. A summary of the shareholders resolution approving the spin-off has been furnished to Bolsa Mexicana de Valores, S.A. de C.V. and the U.S. Securities and Exchange Commission.
TELMEX expects that the spin-off will become effective and further expects that the shares of TELMEX Internacional will be delivered to TELMEX shareholders in 2008.
TELMEX also expects that the shares of TELMEX Internacional will be listed on the Mexican Stock Exchange and, in the form of American Depository Shares, on a securities exchange in the United States.
TELMEX is the leading telecommunications company in Mexico. TELMEX and its subsidiaries provide a wide range of telecommunications services, data and video transmission and Internet access, as well as integrated telecommunications solutions to its corporate customers. Additionally, it offers telecommunications services through its international subsidiaries in Argentina, Brazil, Chile, Colombia, Ecuador and Peru.
More information about TELMEX can be accessed on the Internet at www.telmex.com