Spain’s Banco Santander Central Hispano won the auction for Mexico’s third-largest bank, Grupo Financiero Serfin, with a bid worth 14.7 billion pesos ($1.56 billion). The government took over Serfin last […]
Category: Regions
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Spanish Steel Deal
Spain’s Aceralia Corporacion Siderurgica has said it will go ahead and buy Ahmsa, Mexico’s largest steelmaker. Aceralia has until June 15 to make a formal proposal to the bankrupt company’s […]
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A Clean Balance Sheet
Bancolombia has gained the confidence of international investors and cleaned up its balance sheet. Now the bank must prove it can thrive in Colombia’s feeble economy and fend off foreign competition.
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France Telecom Swaps Shares
France Télécom has swapped its voting shares in Telmex, Mexico’s largest telephone company, for non-voting shares. The deal is part of a plan to make it easier to begin selling […]
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Glorified, but not Glorious
Rogelio Ramírez de la O, a Mexican economist, believes the international press and finanical community have exaggerated the accomplishments of President Ernesto Zedillo. De la O argues that in spite of his economic achievements, Zedillo has failed to create a new economic framework for Mexico and has left masses of workers outside the rising tide of global capital flows.
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Mexican Money Supply
Mexico’s central bank has won an outstanding reputation for executing sound monetary policy. Rarely has the central bank’s monetary expansion deviated from the path it has laid out each year. […]
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Mexico Approves Bancruptcy Code
Mexico’s Congress has approved two important new financial industry reforms, which the government hopes will make it easier for banks to recover loans and so resume lending. The previous legislation, […]
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Ecuador Wins IMF Support
The International Monetary Fund approved a $304 million loan for Ecuador, clearing the way for $2 billion in further loans and aid. The decision to resume lending is a setback […]
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ABN AMRO Opens Mexican Brokerage
With an eye toward the expected flood of new investment-grade issues in Mexico, Netherland’s-based ABN AMRO is launching a brokerage business in Mexico, the only big market in Latin America […]
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Brewer Appoints Marketing Director
Mexico-based brewer Femsa Cerveza has named former Coca-Cola executive Randel Thomas Ransom its new marketing director, replacing Jorge Montemayor who has become a dean at the Instituto Tecnologico y de […]