The June 12 approval by Bancomer of the merger and capitalisation proposal from Spain's Banco Bilbao Vizcaya Argentaria SA will create Mexico's largest banking entity.
The Law, approved by National Congress on May 10, 2000, (Law #25,248) replaces the former leasing system established by Chapter II of Law #24,441.
A decision on June 8 by the Constitutional Court declared that the law on e-commerce complies with the Constitution of Colombia and therefore may be fully applied.
The agreement, signed on June 7, enables the two companies to compete in the South American telecommunications market.
The new law, published in the Official Gazette on June 2, 2000 became effective on June 10 and according to analysts will generate more jobs.
On June 1, 2000 the President issued an Extraordinary Executive Order (No. 434/2000) whose principal aim is to help the Federal Administration prevent tax and social security evasion.
The share swap plan, announced in January, involves an offering of a quarter of the companies' value and will consolidate Telefónica's presence in Latin America.
Talks on a probable merger between Bufete Aguirre Soc. Civ. and Servicios Legales SC have been postponed.
The National Monetary Council (CMN) issued Resolution No. 2723 on May 31, 2000, which established the rules, conditions and procedures for financial institutions planning to open branches and representative office abroad.
The decree, approved on May 30, 2000 lifts the ban on the importation of satellite TV receivers imposed only four months ago.