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Telmex Int'l: 4th quarter investment costs to fall

Telmex Int'l: 4th quarter investment costs to fall

Latin American telephone carrier Telmex International SAB says it will sharply reduce investment costs in the 4th quarter and pursue a conservative financial strategy amid global economic turmoil.
Director General Oscar Von Hauske says the Mexican company's capital expenditures should reach US$1.4 billion this year, totaling US$100 million in the 4th quarter. He says most product deliveries are completed, a key factor raising costs.
The company's 3rd quarter profits fell 40 percent as exchange rate losses and costs offset a rise in sales.
Von Hauske said Friday the financial crisis "will push us to review different kind of costs." He said cost increases must be lower than revenue growth and the company "will push to get there."