By 2005, under Chico Pardo's leadership as vice chairman and CEO, TELMEX (Telefonos de Mexico), the country's largest private sector company, experienced tremendous growth and expansion. Chico Pardo oversaw TELMEX's transition into a deregulated long-distance market and emphasized that “going outside Mexico was a necessity” to staying competitive.

TELMEX acquired a series of new assets in 2005, many sold at bargain prices by U.S. players exiting the region or in bankruptcy. Integrating these new holdings and adding value for TELMEX was a challenge, which Chico Pardo addressed by pursuing a local strategy in each nation while leveraging the pan-regional network. To stay at the top, Chico Pardo sought to reinvent TELMEX from a local telephone monopoly into a global high-tech multimedia company.