Vivendi Universal rallied on Wednesday, after credit ratings agency Standard & Poor's said the media giant's bid for control of cash-rich telecom unit Cegetel was positive for its credit standing.
Cash-rich telecoms companies such as AT&T are facing a crisis as their wireless businesses reach maturity and fixed-line income continues to erode.
Mexico's richest man, telecom magnate Carlos Slim, appeared to welcome the new president's pledge to rein in wasteful spending and fight corruption, saying: "Everybody wants spending to be efficiently managed".
Go to Article from The San Jose Mercury News » Go to Related Article from BusinessWeek » After the $67 billion AT&T/BellSouth deal, one of Wall Street's richest veins – telecoms M&A – looks set to dry up.
Opposite it stands the Soumaya museum, belonging to the world's richest man, telecoms billionaire Carlos Slim, which opened two years ago.
From severe poverty, Bunny's father became a rich and knighted telecom tycoon.
In the depths of the 1990s recession the Finnish government revisited this rich history of telecom competition and liberalized the industry.
He got rich with a telecom company, started a coding school, started a seed fund with Kima Ventures, invested in some of the most famous Silicon Valley companies (Square, Nest, Snap, Airbnb, Uber…), acquired newspapers and spent hundreds of millions of dollars on buildings for startups.
Mr Reynolds' wealth easily eclipsed that of the current world's richest man Mexican telecom mogul Carlos Slim - who is worth a mere $67billion.
Lack of real competition in the sector-dominated by Telmex, controlled by Mexico's richest billionaire, Carlos Slim Helú-means Helú-means Mexicanstelecomamong the highest in the world.
