2. International Telephone and Telegraph (ITT)
International Telephone & Telegraph (ITT) emerged in the 1920s, gaining early traction with its involvement in the telecommunication sector. It was particularly active in Latin America and the Carribean.
After the Second World War, the forces of economic nationalism pushed many governments to nationalize their telephone networks. After venturing into the lucrative defense sector - which contracted after the end of the war - ITT gradually emerged as a conglomerate with diverse interests including hotels, insurance, and manufacturing.
Controversy engulfed ITT in the 1970s when leaked documents suggested it had offered the CIA a seven-figure sum to prevent Salvador Allende from becoming president and possibly nationalizing its local subsidiary (which Allende did proceed to do).