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Carlos Slim, the stealth telecom tycoon resigned from the board of SBC Communications, according to a 8-K filed with the SEC. Reuters reports that he has left for personal reasons. I take that with a grain of salt. Given his holdings in MCI, Global Crossing and […]

Carlos Slim, the stealth telecom tycoon resigned from the board of SBC Communications, according to a 8-K filed with the SEC. Reuters reports that he has left for personal reasons. I take that with a grain of salt. Given his holdings in MCI, Global Crossing and scores of other telecom companies might be the real reason he left. Did the SBC board worry about the conflict of interest? I mean if MCI is competing with SBC, well he could be privy to a lot of insider information. Forbes magazine estimates that Mexican tycoon is worth $13.9 billion,

  1. [...] The SBC’s share have to be substantial given the close relationship between the two companies. A year ago they had formed a joint venture with 2Wire and called is SBC Media Solutions. At the heart of the deal was this interesting sweet little set-top box, which combines satellite TV, and DSL modem type functions along with ability to offer more media/services as part of the set-top box. SBC and Carlos Slim’s Telmex are said to a enjoy close relationship. Till July 2004, Slim sat on the board of SBC, but left because he bought a substantial stake in MCI. [...]

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