Cyntia's Feed
Oct 15, 2012

Cemex sees weaker volumes, eyes Colombia listing soon

MEXICO CITY, Oct 15 (Reuters) – Cemex, Mexico’s leading
cement maker, anticipated on Monday weaker consolidated volumes
for the year hurt by Europe’s tepid performance and said the
listing of one of its units in the Colombian market could happen
soon.

Cemex, which also posted on Monday a narrower quarterly loss
helped by stronger results at its key Mexican and U.S. markets
and gains on financial instruments, sees 2012 consolidated
cement volumes down by 1 percent, compared to a previous view of
1 percent growth.

Sep 6, 2012

Mexican tycoon Slim’s pro football teams could eye listing

MEXICO CITY (Reuters) – Carlos Slim’s new professional football teams Leon and Pachuca are considering listing on the stock exchange as the tycoon seeks to break TV networks’ stranglehold on sports broadcasting.

No other Mexican sports teams are publicly owned and the move would give the two teams access to more resources to buy in better players and invest in youth academies.

Sep 6, 2012

Mexican tycoon Slim’s pro soccer teams could eye listing

MEXICO CITY (Reuters) – Carlos Slim’s new professional soccer teams Leon and Pachuca are considering listing on the stock exchange as the tycoon seeks to break TV networks’ stranglehold on sports broadcasting.

No other Mexican sports teams are publicly owned and the move would give the two teams access to more resources to buy in better players and invest in youth academies.

Jul 31, 2012

Cemex to outsource jobs in biggest Mexican deal for IBM

MEXICO CITY (Reuters) – Mexico’s top cement maker Cemex is outsourcing jobs worldwide to IBM in a deal that will help it save $1 billion over 10 years, the latest bid by the company to trim costs and boost its financial health.

Cemex, which was swamped by the collapse of the U.S. housing market after paying out some $16 billion to buy Australian peer Rinker, has been working its way out of a deep debt hole for the past three years.

Jul 30, 2012

Cemex outsources jobs to IBM to cut costs

MEXICO CITY (Reuters) – Mexico’s top cement maker Cemex is outsourcing jobs worldwide to IBM in a deal that will help it save $1 billion over 10 years, the latest bid by the company to trim costs and boost its financial health.

Cemex, which was swamped by the 2008 U.S. housing meltdown shortly after paying out some $16 billion to buy Australian peer Rinker, has been working its way out of a deep debt hole for the past three years.

Jul 27, 2012

America Movil profit falls on forex losses, costs

MEXICO CITY (Reuters) – America Movil (AMXL.MX: Quote, Profile, Research, Stock Buzz) (AMX.N: Quote, Profile, Research, Stock Buzz), the biggest cell phone company in Latin America, on Thursday posted a sharp decline in quarterly profit as it took a big hit from foreign exchange losses and rising costs.

The company, owned by Mexican tycoon Carlos Slim, earned 13.25 billion pesos ($993 million) in the April-June period, down 45.5 percent from the same period last year.

Jul 26, 2012

America Movil says no interest in TeliaSonera Spain unit

MEXICO CITY, July 26 (Reuters) – Billionaire Carlos Slim’s
America Movil is not currently interested in TeliaSonera’s
Spanish unit Yoigo, the Mexican company’s chief executive,
Daniel Hajj, said on Thursday.

“Not for the moment. We are focused on Austria and the
Netherlands,” he told Reuters, referring to the Mexican
company’s recent acquisitions of large stakes in Telekom Austria
and Dutch peer KPN.

Jul 25, 2012

Aeromexico places $11 billion order with Boeing

MEXICO CITY (Reuters) – Mexico’s largest airline Aeromexico on Wednesday placed an $11 billion provisional order with Boeing (BA.N: Quote, Profile, Research, Stock Buzz), in what the company said was the biggest aircraft investment by a Mexican airline in that country’s history.

The order is for 90 737 MAX 8 planes and 10 787-9 Dreamliners, Aeromexico (AEROMEX.MX: Quote, Profile, Research, Stock Buzz) said in a statement that did not provide specifics on financing arrangements.

Jun 29, 2012

Mexico’s Cemex proposes debt swap to lenders

MEXICO CITY, June 29 (Reuters) – Mexican cement maker Cemex
said on Friday its new debt refinancing plan, which helps it
dodge a tough 2014 maturity, is moving swiftly and could
conclude in the third quarter of the year.

Cemex presented creditors on Friday with details of the deal
- which calls for a debt exchange, possible asset sales, a
prepayment and revised financial covenants – to gain breathing
room ahead of its heavy 2014 $7.25 billion maturity.

Jun 27, 2012

Mexican tycoon Slim scores new win in Europe

MEXICO CITY (Reuters) – Mexican tycoon Carlos Slim notched another victory in Europe on Wednesday as he acquired a quarter of Dutch telecom KPN (KPN.AS: Quote, Profile, Research, Stock Buzz), bolstering his expanding mobile phone empire.

Slim’s cellphone giant America Movil (AMXL.MX: Quote, Profile, Research, Stock Buzz) said it was offered more shares than it needed to reach its goal of getting 27.7 percent of KPN.