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Comunicados 2005
Mexico City, April 11, 2005.
Telmex and related entities enter into agreement to sell their equity interest in MCI to Verizon
Mexico City , Mexico, April 11, 2005. Teléfonos de México, S.A. de C.V. (TELMEX) (BMV: TELMEX;NYSE:TMX;NASDAQ:TFONY; LATIBEX: XTMXL) today announced that TELMEX and other related entities have entered into an agreement to sell to Verizon Communications, Inc.(Verizon) the shares of MCI, Inc. (MCI) that they hold. These entities together in the aggregate hold approximately 43.4 million shares of MCI's common stock, representing approximately 13.4% of MCI's outstanding stock. The sale agreement provides that Verizon will pay $25.72 in cash per share of MCI common stock. The consummation of the sale is subject to customary closing conditions, including the receipt of regulatory approval.
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 $35.52 during a measurement period ending immediately prior to the first anniversary of the date of the sale agreement. TELMEX is the leading telecommunications company in Mexico. TELMEX and its subsidiaries offer a wide range of advanced telecommunications, data and video services, Internet access as well as integrated telecom solutions for corporate customers. Additionally, the company offers telecommunications services through is affiliates in Argentina, Brazil, Colombia, Chile and Peru.
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