The current agreement with workers allows retirement after 35 years of service without an age requirement. The only exception under the new agreement to retire before 65 years old is for employees at least 60 years old and with 37 or more years of service.
The new agreement allows Telmex’s active and retired employees to convert part of their pension liability into shares representing Telmex’s capital stock. This is an optional stock plan.
Employees participating in the stock option plan receive Telmex’s shares with equal rights as those of Telmex’s current shareholders. Telmex will unify its current series of shares into a single series, exclusively made by ordinary and full voting rights shares.