In 1970, ITT owned of 70% of Chitelco (the Chilean Telephone Company) and funded El Mercurio, a Chilean right-wing newspaper. Declassified documents released by the CIA in 2000 suggest that ITT financially helped opponents of Salvador Allende‘s government prepare a military coup.[12][13]
When Allende nationalized the mining industry, the CIA began planning a coup. They overthrew him two years later and installed a fascist.