Cyntia's Feed
Mar 12, 2012

Mexico’s Slim aims for US Internet TV in 3rd qtr

MEXICO CITY, March 12 (Reuters) – Mexican billionaire
Carlos Slim is financing an Internet TV network that will
include an interview show with former CNN television host Larry
King in a project that could be running before October,
according to the network and a Slim spokesman.

The online venture, Ora.TV, will be based in the United
States and could launch in the third quarter of this year, a
spokesman for Slim told Reuters on Monday.

Mar 7, 2012

MVS says Mexico rejected $340 million for spectrum

MEXICO CITY, March 7 (Reuters) – Mexican media company
MVS Comunicaciones said on Wednesday it had offered to pay the
government $340 million to keep nearly three quarters of
broadcast spectrum it is fighting to stop from falling into the
hands of rivals.

MVS, holder of 190 megahertz (MHz) of lucrative bandwidth
that has been dormant for several years, is being circled by
rivals, including broadcaster Televisa.

Feb 28, 2012

Tycoon Slim to helm rescue for crime-weary Acapulco

MEXICO CITY, Feb 27 (Reuters) – Mexican billionaire
Carlos Slim will spearhead a project to rescue the Pacific port
of Acapulco, a once glamorous haunt of Hollywood stars that has
lately become mired in violent crime.

Slim, the world’s richest man and owner of Latin America’s
biggest cell phone company, will be the president of a council
that will pool funding for new hotel developments, mostly in the
oldest part of the resort famed for its daring cliff divers.

Feb 25, 2012

Mexico’s competition agency head testifies

MEXICO CITY, Feb 24 (Reuters) – Mexico’s chief
competition regulator gave testimony on an undisclosed issue
after being summoned by prosecutors on Friday, weeks after a
scuffle broke out when his agency tried to notify two companies
about a blocked acquisition.

Eduardo Perez Motta, head of Mexico’s anti-trust agency
Cofeco, testified for at least eight hours to federal
prosecutors, a Cofeco source said.

Feb 2, 2012

Mexico’s Iusacell not eyeing 100 pct sale for now

MEXICO CITY, Feb 2 (Reuters) – Mexican cellphone firm
Iusacell said on Thursday it has not considered selling the
entire company, assuming its deal with broadcaster Televisa is
never approved by regulators.

In a 3-to-2 vote, Mexico’s competition watchdog Cofeco
blocked Televisa’s planned $1.6 billion bid for a 50 percent
stake in Iusacell, cementing tycoon Carlos Slim’s dominance of
Mexico’s mobile market, the companies said on Wednesday.

Feb 2, 2012

Cemex loss narrows, plans more asset sales

MEXICO CITY, Feb 2 (Reuters) – Mexico’s Cemex, one of
the world’s biggest cement companies, posted a narrower
fourth-quarter loss on Thursday as asset sales helped trim its
debt burden.

The global economic downturn has taken a big toll on Cemex
(CX.N: Quote, Profile, Research) (CMXCPO.MX: Quote, Profile, Research), slowing its cash generation, which is
crucial for it to meet debt servicing costs and comply with
creditor agreements.

Feb 2, 2012

Mexico’s watchdog blocks Televisa-Iusacell mobile deal

MEXICO CITY, Feb 1 (Reuters) – Mexican regulators have
blocked broadcaster Televisa’s $1.6 billion bid for a 50 percent
stake of cellphone company Iusacell, cementing tycoon Carlos
Slim’s dominance of Mexico’s mobile market.

Televisa and Iusacell had hoped to combine forces to
challenge Slim in the cellphone market, which has made him one
of the world’s richest men.

Feb 1, 2012

Mexico’s watchdog blocked Televisa deal: sources

MEXICO CITY (Reuters) – Mexico’s competition watchdog blocked a $1.6 billion telecoms deal that would have linked the empires of two of the country’s richest men, sources briefed on the ruling said on Wednesday.

The rejection of the proposal will cement telephone tycoon Carlos Slim’s dominance of the Mexican cell phone market, where his companies account for 80 percent of subscribers.

Jan 25, 2012

Mexican regulators mum on Televisa-Iusacell tie-up

MEXICO CITY (Reuters) – Mexican regulators on Tuesday said they have reached a decision on broadcaster Televisa’s planned purchase of half of cell-phone company Iusacell, but would not yet disclose that decision.

Mexico’s competition commission, which began its closed-door meeting around 1200 local times (1800 GMT), said in a statement that its officials cannot comment on the decision until the companies involved have been notified.

Dec 11, 2011

Strong earthquake rattles Mexico, one dead

MEXICO CITY (Reuters) – A powerful 6.7 magnitude earthquake shook Mexico on Saturday, killing at least one person, knocking out lights in parts of the capital and sending people rushing into the streets.

There were no immediate reports of damage or injuries in Mexico City but emergency services said one person was killed when a house collapsed in Iguala, a small city between the capital and the tourist resort of Acapulco.