Market: Mexico

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

Telmex and BCI in new joint venture company

The agreement, signed on June 7, enables the two companies to compete in the South American telecommunications market.

07 June 2000

New bankruptcy law

The Mercantile Insolvency Mercantile Law enacted on May 12, 2000 replaces bankruptcy and loan-guarantee laws dating from the 1940s with the aim of helping businesses in financial distress.

12 May 2000

Last day for foreign banks to file for registry renewal - March 31

For foreign banks doing business in Mexico, March 31 is the last day to file for registry renewal in the Foreign Bank Registry of the Mexican Tax Administration Service (SAT).

31 March 2000

Mexican telecommunications conglomerate purchases majority stake in Conecel

The bid for a majority stake in Consorcio Ecuatoriano de Telecomunicaciones SA Conecel, one of the two holders of a mobile cellular licences in Ecuador by Teléfonos de México SA de CV (Telmex) was approved on March 21.

21 March 2000

New partner joins Lopez Velarde, Heftye Abogados

A new partner has joined the energy specialists Lopez Velarde, Heftye Abogados. Educated in Mexico and France, David Jiménez is former legal advisor to the General Counsel of Petróleos Mexicanos (the Mexican state-owned oil company) with regard to international transactions. His practice in Lopez Velarde, Heftye Abogados is focused on energy and infrastructure projects, as well as on mergers and acquisitions and foreign investment general practice.

01 March 2000

UK mobile phone giant enters Mexican market

On January 5 the UK mobile phone giant Vodafone, advised by Creel, García-Cuellar y Müggenburg and Pillsbury Whinthrop, took its first stride into the fast-developing Latin American wireless market with the US$973.4 million purchase of a 34.5 per cent stake in Grupo Iusacell from the Peralta family.

05 January 2000

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