The company, before being owned by Carlos Slim in 1990, needed funds for its growth, taking as a strategy that when marketing a telephone line it would offer the sale of shares, which act occurred until 1989.
These shares were considered preferred, which implies that they do not have corporate rights and participation as a shareholder is minimal, in addition to having no participation in the decisions of the company’s Board.
Telmex securities that were sold until 1989 increased in value after its privatization, but this trend began to decline in 2012 when América Móvil decided to absorb all the shares of Telefonos de México. The price of Telmex shares was determined by the IPC (Price and Quotation Index) of the Mexican Stock Exchange (BMV), whose platform reflects that its price has been pulverized.
What to do if I have Telmex shares?
Currently, it is not clear how many shares of the company are in the hands of consumers, Telmex told Expansión. “But those titles almost don’t exist anymore.” However, for those who still hold these stock titles, the company has recommended taking their bonds to a Banco Inbursa or Scotiabank branch, where they can advise them to know the real value of the papers.
Currently there are sites where they invite ‘Telmex shareholder partners’ to visit them to advise them on the value of the securities they still own. And even on the light poles it is possible to see signs with the legend: “I buy Telmex shares.”
Brian Rodríguez, an analyst at Monex Grupo Financiero, explained that when a company leaves the BMV, the shares that were not sold automatically lose their value, since the CPI is what determines the price, however, there is an over-the-counter market where people They agree to give a value to the stock to be sold.
“I don’t know if there is still interest in owning this type of securities, but in reality it is already very complicated to move shares in an unofficial market because their value is almost zero,” Rodríguez said.
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