Telmex Readies Equity Buyback

Mexican telecom giant Telmex Internacional, the entity recently spun off from Telmex, hopes to approve a plan to buy back up to MXP10bn in shares. The company called for a shareholder meeting on July 9 to discuss the deal. Separately, the Mexican company is heard eyeing Telecom Argentina, Brazil’s Global Village Telecom and Chile’s Grupo GTD as possible acquisition targets, according to bankers familiar with the company. Telmex Internacional is understood to be the largest spin-off ever done in LatAm, valued at $16bn.