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Comunicados 2005
Telmex announces the acquisition of an interest In Net Serviços
Mexico, City, Mexico, March 21, 2005
Teléfonos de México, S.A. de C.V. (TELMEX) (BMV:TELMEX; NYSE : TMX; NASDAQ : TFO NY; LATIBEX : XTMXL) to day announced that , in accordance with the agreement with Globo Comunicações e Participações, S.A., Distel Holding, S.A.,UGB Participações S.A. and Roma Participações Ltda. (collectively known as "Globo"), to acquire an equity interest in Net Serviços de Comunicação, S.A.("NetServiços"), signed on June 27, 2004, TELMEX, through its subsidiary Latam do Brasil Participações, S.A.("Latam Brasil"),carried out the acquisition of an equity interest in Net Serviços.
The transactions, subject to the purchase agreement, were executed as follows:
Globo transferred to GB Empreendimentos e Participações S.A.("GB"),a former Globo subsidiary, 802,494,433 Net Serviços common shares, representing 51% of Net Serviços´ total common shares;
Globo sold directly to Latam Brasil 460,928,020 NetServiços´ common shares, representing 29.3% of Net Serviços´ total common shares;
Latam Brasil acquired 131,074,091 common shares and 534,996,288 preferred shares of GB, representing 49% of common shares and 100% of preferred shares of GB, respectively.
After the aforementioned as well as of other related transactions, TELMEX, through Latam Brasil, holds 36.6% of Net Serviços´ common and 7.9% of its preferred shares, representing 19.6% of Net Serviços´ total outstanding shares, in addition to shares TELMEX holds indirectly through GB. Globo remains the controlling-party of GB, which holds 51% of Net Serviços´ voting shares.
TELMEX is the leading telecommunications company in Mexico with 17.2 million telephone lines in service, 3.3 million line equivalents for data transmission and 1.7 million Internet accounts. TELMEX offers telecommunications services through a 75 thousand kilometer fiber optic digital network. TELMEX and its subsidiaries offer a wide range of advanced telecommunications, data and video services, Internet access as well as integrated t e l e com solutions for corporate customers. Additionally, the company offers telecommunications services through its affiliates in Argentina, Brazil, Colombia, Chile and Peru.
Net Serviços is the leading cable TV operator in Brazil with more than 1.4 million customers, served through its extensive network, with presence in Brazil's main cities such as São Paulo, Rio de Janeiro, Belo Horizonte, Porto Alegre, Curitiba, Brasilia and Florianópolis and Goiania. Net Serviços also provides broadband services to its customers.
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