Business Services Industry
Mexico's Marcatel Backs Telecom FDI Freedom.
Internet Securities, June, 2001
MEXICO CITY, Jun 15, 2001
Gustavo de la Garza, president and CEO of Mexican telephone operator Marcatel, said his company and long-distance carrier Alestra were both lobbying the administration of President Vicente Fox to see existing restrictions on foreign ownership of Mexican telecom companies eased, according to a report in Mexican financial daily El Economista. Del Garza owns 51 percent of Marcatel, with U.S.-based companies IXC Communications (NASDAQ NM:IIXC) and Westell Technologies (NASDAQ NM:WSTL) holding the remaining 49 percent. Alestra is 49-percent owned by U.S. giant AT&T (NYSE:T), while Mexican conglomerate Grupo Alfa (BMV:ALFA) has 25.6 percent and partly Spanish-owned Grupo Financiero BBVA Bancomer (BMV:GFBB) has the remaining 25.4 percent....
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