Published: August 06, 2011
Tripp Levy PLLC Announces Investigation of Telmex
NEW YORK - (BUSINESS WIRE) - Tripp Levy PLLC, a leading national securities law firm, announces an
investigation into the proposed acquisition of Telefonos de Mexico SAB
(NYSE: TMX) ("Telmex" ). It was announced that America Movil SAB, has
offered to buy the 40.4 percent of Telmex it doesn't already own for
only 10.50 pesos (90 cents) a share or $17.92 ADR. The offer represents
only an 11 percent premium over Telmex's closing price on July 29, 2011. AT&T,
which holds an 8.5 percent stake in Telmex, said it will accept America
Movil's offer for its shares. AT&T also owns about 9 percent of America
Movil and is part of a group with Carlos Slim and his family that
controls Telmex's voting shares.
The investigation concerns, among other things, whether the
consideration to be paid to Telmex shareholders is unfair, inadequate,
and substantially below the fair or inherent value of Telmex. Indeed,
analysts estimate the true inherent value of the stock is worth at least
$22 per ADR. The investigation further concerns whether the board of
directors of Telmex may have breached their fiduciary duties by not
acting in Telmex shareholders' best interests in connection with the
sale process of Telmex.
If you own Telmex common stock or ADR's and you wish to discuss this
matter with us, or have any questions concerning your rights and
interests with regard to this matter, please contact
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Tripp Levy
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Tripp Levy PLLC
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125 East 82nd Street
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9th Floor
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New York, New York
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Toll Free: 877-772-3975
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Email: contact@tripplevy.com
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Tripp Levy PLLC is a national law firm that specializes in mergers &
acquisitions, takeover litigation, shareholder rights, and corporate
governance matters in state and federal courts throughout the United
States. Attorney advertising. Prior results do not guarantee a similar
outcome.
Tripp Levy PLLC
Tripp Levy, 877-772-3975
contact@tripplevy.com
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