Market: Mexico

Cleary Gottlieb, Davis Polk and Santamarina y Steta in financial services transaction

The firms are advising in a transaction between Aetna International Inc and Grupo Financiero BBVA Bancomer (GFBB) that was announced on September 19, 2000.

19 September 2000

Public stock offering conditions issued

The Ministry of Finance and Public Credit issued these rules to set forth and clarify the conditions applicable to foreign issuers who are interested in registering and offering their stock in the Mexican Stock Market. These conditions are designed to allow the offering of international securities in the Mexican Stock Market in an effort to internationalise it and turn it into a hub stock exchange for Latin America.

14 September 2000

Mexican arbitration case sets precedent

Solórzano, Carvajal, González y Pérez-Correa advised a US company in its dispute against Mexico which closed on August 30, 2000 involving a settlement of over US$16 million.

30 August 2000

Baker & McKenzie opens office in Guadalajara

On July 5 the international law firm announced the establishment of an office in the second largest city in Mexico.

05 July 2000

Mexican Institute of Social Insurance (IMSS) adjusts rules on late payment

On July 4, 2000 the Official Daily published ruling 399/2000 issued by the Technical Council of IMSS, in which easy payment terms are granted to companies for settlement of their debt.

04 July 2000

Final text released for Mexico-EU Free Trade Association Agreement

The text for the free trade association agreement signed in November 1999 between Mexico and the European Union was released in February. Mexico and EU are currently taking the necessary steps under their domestic legal regimes to implement the Agreement by 1 July 2000.

01 July 2000

Mexico - EU Free Trade Agreement treaties come into effect

The treaties that were approved in February and March this year came into effect on July 1.

01 July 2000

Latest amendments to tax resolution

On June 30, 2000 the fourth resolution of changes to the Miscellaneous Tax Resolution for 2000 was published.

30 June 2000

France Telecom sells Telmex shares

The global public offering closed on June 23 with the sale of approximately 160 million Telmex shares equivalent of 53 American Depositary Shares (ADSs).

23 June 2000

Grupo Financiero Bancomer SA chooses BBVA over Banacci

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.

12 June 2000

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