Telefónica Names Former Finance Minister As Unit President

Spanish telecoms giant Telefónica has appointed Mexico's former finance minister Francisco Gil as chairman and president of its mobile unit Movistar México, local and international press reported.

Gil, who was finance minister from 2000-2006 under the President Vicente Fox administration, has worked in the private sector before, holding the position of CEO of fixed line operator Avantel, which has since been acquired by fellow fixed line operator Axtel.

During his period as finance minister, Gil was a vocal critic of the 77% market dominance of Mexican mobile holdings group América Móvil, according to business magazine Latin Finance."

Posted to the site on 20th February 2007