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Mexico's telecommunications industry, to a large extent is dominated by wire-line operator Telmex and mobile operator Telcel. Both belong to Carlos Slim - the world's richest man as per Fortune's list in August 2007. Telmex provides local, domestic long-distance and international fixed-line voice services, Internet and data communications, while Telcel provides wireless services. Both Telmex and Telcel hold a mammoth portion of the market share in the Mexican telecommunication industry. In this context, these companies have been constantly criticized that they take undue advantage of their dominance and thwart competition in the industry. However, these companies defend themselves by arguing that they invest more than their competitors and provide good services throughout the country including low-margined rural areas.
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