(NZT) (TMX) Buying some cheap telecoms - Telmex and Telecom New Zealand

In this world of a falling dollar I can't help but pick up some high dividend paying low valuation stable earnings oriented telecom companies.  I added to my position in Telecom New Zealand (NZT) and I bought back the May 20 strike calls sold agains my small  Telmex (TMX) position.

Note regarding dividends paid by foreign corporations: Both of these stocks are American Depository Receipts and represent shares issued by non-US corporations.  Dividends on these companies are taxed at the regular income rate not the special 15% rate for US corporations. 

Disclosure:
I own Telecom New Zealand (NZT) and Telmex (TMX). I am also short jan 2007 - 15 strike puts on TMX. (I'd be very happy to own it at that price.)