Business & Economy

Slim rejects accusations of favoritism, says Telmex ‘no longer a business’

Mexico City, Feb 12 (EFE).- Mexican billionaire Carlos Slim said Tuesday that he has not benefited from the government of President Andrés Manuel López Obrador and stressed that Telmex is “no longer a business.”

“Telmex is no longer a business. (…) It has been in the red for 10 years,” said Slim, 84, during a rare press conference in Mexico City.

However, he said he did not plan to sell the telecommunications company since it must be a Mexican company.

“I already told my children that they cannot sell it. It is not a business anymore, but we are not going to sell it,” he added in his appearance that lasted more than three hours.

During question time, the businessman rejected accusations of favoritism on the part of the López Obrador government.

“I have not received any benefits from this government, yet I have contributed benefits,” Slim said, highlighting that, for example, he has barely carried out public works in the current six-year term compared to how he participated in the sector in previous governments.

He did recognize his good personal relationship with the current president, whose six-year term will end in October.

“Now, with the Tren Maya, I meet more with the president. Three or four hours (…) but we have our differences,” said the magnate.

Slim said that his infrastructure company only participates in one of the seven sections of the Tren Maya, a 1,500km railway across the Yucatán peninsula, one of López Obrador’s main works that seeks to promote economic development in southeastern Mexico.

On the other hand, he commented on the importance of “nearshoring” or business relocation, a phenomenon that represents a great opportunity for Mexico due to its proximity to the US market, but which requires a higher level of investment by both the public and private sectors in the country. EFE

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