Cyntia's Feed
Jun 26, 2012

Guarantors, pre-payment stir concern over Cemex debt plan

MEXICO CITY (Reuters) – Cemex’s plan to refinance its debt was welcomed by investors but doubts remain about the new guarantors the Mexican cement maker will use to back the plan, and its goal of paying down $1 billion ahead of schedule.

Monterrey-based Cemex on Monday unveiled a refinancing plan that calls for a three-year maturity extension, an up-front fee, revised margins, and a bigger guarantor package.

Jun 21, 2012

Slim strengthens hand in Europe, has 21 percent of KPN

MEXICO CITY/AMSTERDAM (Reuters) – Mexico’s Carlos Slim extended his power in Europe on Thursday, taking control of more than a fifth of KPN in the teeth of opposition from the Dutch telecoms group.

Slim’s America Movil, which has been expanding his business empire into Europe, said on Thursday it had raised its shareholding in KPN to 20.92 percent, closing in on its objective to acquire up to 28 percent of the Dutch company.

Jun 19, 2012

Televisa, Iusacell accept tie-up conditions

MEXICO CITY, June 19 (Reuters) – Mexican broadcaster
Televisa and cell phone company Iusacell have officially
notified the federal competition commission that they agreed to
the conditions imposed by the agency to allow them to join
forces in the country’s mobile phone market.

“They have accepted in written form,” a Cofeco source, who
was not authorized to speak publicly on the matter, told Reuters
on Tuesday.

Jun 18, 2012

Mexico’s Televisa accepts Iusacell deal conditions

MEXICO CITY, June 18 (Reuters) – Broadcaster Televisa said
on Monday it had accepted the conditions imposed by Mexico’s
competition watchdog to approve its bid for half of cellphone
company Iusacell, but Iusacell said it was still evaluating the

Cofeco slapped several conditions on the transaction, which
were made public last week. Iusacell said the
conditions were extremely harsh, costly and difficult to meet.

Jun 15, 2012

Nextel seeks fast network launch in Mexico in 3rd quarter

MEXICO CITY, June 15 (Reuters) – NII Holdings’
Nextel said on Friday it will make the full launch of its fast
mobile network in Mexico in the third quarter, offering
downloads of 21 Mbps as it seeks to boost market share in the
cell phone market.

Nextel has invested $6 billion since opening shop in Mexico
a decade ago, and deploying its new network will cost an extra
$1.7 billion, company vice president Gustavo Cantu told Reuters.

Jun 15, 2012

Mexico’s Slim to keep YPF stake at least short-term

MEXICO CITY (Reuters) – Mexican tycoon Carlos Slim and his family plan to keep their 8.4 percent stake in Argentine energy company YPF (YPFD.BA: Quote, Profile, Research, Stock Buzz) at least for the short-term, a spokesman for the billionaire told Reuters on Friday.

Slim, the world’s richest man, and his family disclosed on Thursday they received the YPF stock in lieu of a loan guarantee. It was not a direct purchase.

Jun 14, 2012

Mexico’s Slim family takes shares in Argentina YPF

BUENOS AIRES/MEXICO CITY (Reuters) – Mexican tycoon Carlos Slim and his family have taken a stake in Argentina’s recently renationalized energy company YPF (YPFD.BA: Quote, Profile, Research, Stock Buzz) in lieu of a loan guarantee, but they have no plans to increase it for now, his spokesman said.

YPF said in a filing with the U.S. Securities and Exchange Commission that the Slims now own 8.4 percent of Class D shares of the company. It was not immediately clear how big an overall stake that represented.

Jun 14, 2012

Mexico slaps conditions on Televisa-Iusacell tie-up

MEXICO CITY, June 14 (Reuters) – Mexico’s competition
watchdog said on Thursday it approved broadcaster Televisa’s
bid to buy half of cell phone company Iusacell but
imposed tough conditions on the deal, seen as crucial to helping
both companies mount a serious challenge to tycoon Carlos Slim’s
telecoms empire.

Televisa, the world’s biggest producer of Spanish-language
shows, has been fighting for 14 months to push through its $1.6
billion bid for 50 percent of Iusacell.

Jun 13, 2012

Iusacell, Telefonica to challenge Mexico’s Slim

MEXICO CITY (Reuters) – Iusacell and Spain’s Telefonica said on Wednesday they have reached a deal to share their infrastructure in Mexico as they seek to mount a stronger challenge to Carlos Slim’s America Movil (AMXL.MX: Quote, Profile, Research, Stock Buzz) in the telecommunications market.

The agreement, similar to the one between Telefonica’s O2 and Vodafone in Britain last week , calls for sharing everything from antennas and hot spots to fiber optics as both companies get ready to offer fourth-generation services in the country.

Jun 12, 2012

Mexico’s America Movil increases stake in KPN

MEXICO CITY (Reuters) – Mexican billionaire Carlos Slim upped the pressure on KPN shareholders by buying more stock of the Dutch telecommunications company at a lower price than his current tender offer for up to 27.7 percent of the firm.

Mobile phone giant America Movil (AMXL.MX: Quote, Profile, Research, Stock Buzz), the jewel of Slim’s empire, said on Monday it made four separate transactions to buy an aggregate 6 million ordinary shares of KPN (KPN.AS: Quote, Profile, Research, Stock Buzz), bringing its holding in the Dutch firm to 7.3 percent.