Salinas Companies Delist

Mexican broadcaster TV Azteca, wireless phone company Grupo Iusacell, and consumer banking unit Grupo Elektra, all part of Ricardo Salinas Pliego’s Grupo Salinas, plan to delist from the New York Stock Exchange. A Grupo Salinas spokesman said the move was a response to excessive regulation in the US, which has pushed up the companies’ costs to unacceptable levels. Ricardo Salinas has been charged by the US Securities and Exchange Commission with executing a fraudulent debt transaction in 2003.