<P> Later in 1990, Slim acted in concert with France Télécom and Southwestern Bell Corporation in order to buy the landline telephone company Telmex from the Mexican government, when Mexico began privatizing its national industries . Slim was one of the initial investors of Telmex, the revenues of the company eventually formed the bulk of Slim's wealth . By 2006, 90 percent of the telephone lines in Mexico were operated by Telmex, and his mobile telephone company, Telcel, which was created out of the Radiomóvil Dipsa company, operated almost 80 percent of all the country's cellphones . By 2012, América Movil, Slim's mobile telephone company, had taken over Telmex and made it into a privately held subsidiary . </P> <P> In 1991, he acquired Hoteles Calinda (now OSTAR Grupo Hotelero), and in 1993, he increased his stakes in General Tire and Grupo Aluminio to the point where he had a majority interest . </P> <P> In 1996, Grupo Carso was split into three companies: Carso Global Telecom, Grupo Carso, and Invercorporación . In the following year, Slim bought the Mexican arm of Sears Roebuck . In July 1997 Grupo Carso agreed in principle to sell Procter & Gamble de México, a subsidiary of The Procter & Gamble Co., a manufacturing plant in Apizaco and the company's Lypps, Pampys, and other toilet - tissue brands for about US $170 million but kept its tissue - products company Fábricas de Papel Loreto y Peña Pobre . </P> <P> In 1999, Slim began expanding his business interests beyond Latin America . Though the bulk of his holdings still remained in Mexico, he began setting his sights towards the United States for overseas investments . </P>

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