More Telmex Stock to Be Offered for Foreign Sale
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MEXICO CITY — More stock in Telefonos de Mexico, the Mexican telephone company, will probably be offered on foreign markets in May or June, the Mexican Treasury Ministry announced Wednesday.
The ministry has begun preparing a prospectus for a foreign stock offering of an undetermined number of shares from the 9.5% of the company that the government still owns. The government, which previously owned a controlling interest, sold off most of its stock in December, 1990, and May, 1991.
Telmex, which trades on both the New York Stock Exchange and the over-the-counter market, is the most active of the dozens of Mexican stocks that have been issued on foreign markets in the past two years.
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