Nine years after spinning off the wireless operations of Telmex to create America Movil, Mexican billionaire Carlos Slim launched a US $24.6 billion bid to consolidate his Latin American telecom holdings. The deal would result in America Movil acquiring control of both Telmex and Telmex International. America Movil ranks as the largest wireless service operator in Latin America, and Telmex is the leading provider of fixed line telephone services in Mexico. Telmex International offers fixed line services to customers in Latin American markets that include Brazil, where it owns 98% of former state phone monopoly Embratel. Slim, meanwhile, controls America Movil and the holding company—Carso Global Telecom (CGT)—that controls both Telmex and Telmex International. Under the takeover plan, America Movil would exchange 2.0474 shares of its stock for every share of CGT stock. Valued at $17.9 billion, the proposed transaction represents a premium of 4% over CGT’s closing stock price as of January 13 and would give America Movil indirect controlling stakes of 59.4% and 60.7% in Telmex and in Telmex International, respectively. In a related transaction valued at $6.7 billion, America Movil is also offering to exchange 0.37 shares of its stock or US $0.92 in cash for each Telecom International share not owned by CGT. Asserting that the move will enable America Movil to offer bundled packages of wireless, fixed-line, Internet and television services that customers demand, America Movil finance chief Carlos Garcia Moreno explained, “to maintain our competitiveness going forward in the medium and long term, it is of the essence that we end up running an integrated operation.”