Engineering a new financial circuitry: Telmex and Mexican capital markets

A theoretical framework emphasizing the “value in motion” dimension of fixed capital is used to examine Mexico’s telephone infrastructure. Telmex’s history is summarized, emphasizing events since the sale of a controlling interest in the company to a consortium comprised of Grupo Carso, Southwestern Belland France Telecom. The transfer of ownership from the the government to the private sector was the largest privatization in Mexican history, and reduced the potential to democratize Mexico’s information economy. Rather, Telmex’s resources have been heavily committed to transforming Mexican finance, especially its integration with global financial markets.