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Comunicados 2005
Mexico City, May 17, 2005.
Telmex and related entities finalize sale of theri equity interest in MCI to Verizon
MEXICO CITY, Mexico, May 17, 2005 -- Teléfonos de México, S.A. de C.V. (BMV: TELMEX; NYSE: TMX; NASDAQ: TFONY; LATIBEX: XTMXL) today announced that a subsidiary of TELMEX and other related entities sold all of the shares of MCI, Inc. that they owned to a subsidiary of Verizon Communications Inc. for an aggregate cash consideration of approximately US$1.1 billion.
In addition, these selling shareholders also have the right to receive from Verizon an additional cash payment to the extent the trading value of Verizon's common stock is greater than US$35.52 during a measurement period ending immediately prior to April 9, 2006.
CONTACT: Ruy Echavarría Ayuso (5255) 5703-3990, Teléfonos de México, S.A. de C.V.
TELMEX is a corporation made up of Teléfonos de México, S.A. de C.V., its subsidiaries and affiliates that provides telecommunications services throughout the country. In addition to other services, this includes operation of the nation's most complete local, domestic and international long distance networks. Additionally,TELMEX offers services like connectivity, Internet access, colocation, web hosting, production and distribution of telephone directories and interconnection services to other telecommunications operators. Additionally, it offers telecommunications services through its international subsidiaries in Argentina, Brazil, Chile, Colombia and Peru.
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