Emerging Market Multinationals from Latin America : Analyzing the Internationalization Patterns and M&As Corporate Strategies of Mexico's Largest Companies

Utilizing a unique data set based on companies' annual reports and local leading financial publications; data from privatization of state-controlled enterprises; world merger and acquisitions (M&As) and financial data from the Mexican (BMV) and New York (NYSE) stock exchanges, this paper studies and compares the major internationalization patterns of M&As of Mexico's 2 largest, yet contrastingly different companies, world class leading firms in their respective industries (Mobile telephony and cement production) in perspective with the rest of the largest 20 indigenous business groups in Mexico over a 22-year period concluded in 2010