Grupo Salinas Position Regarding Competition

Sep 29, 2010, 22:21 ET from Grupo Salinas

MEXICO CITY Sept. 29 /PRNewswire/ -- Grupo Salinas informed this afternoon that in the case of the legal action against the "Licitacion 21" radioelectric spectrum bidding, the measures that prevent the delivery of concession titles in favor of Nextel remain firm and valid. The Group adds that it will continue to make use of all legal resources within its reach to prevent this special deal regarding the spectrum from materializing.

"We welcome competition, but not the equivalent of a theft of 5 billion pesos in favor of a single player in the cellular telephone market," stated the company.

Iusacell publicly states that it will desist all legal action against the bidding if a transparent public mechanism is established to pay the 5 billion pesos, which actually belong to the Mexican public.

Company Profile

Grupo Salinas

Grupo Salinas ( is a group of dynamic, fast-growing, and technologically advanced companies focused on creating shareholder value, contributing to build the middle class of the countries where they operate, and improving society through excellence.  Created by Mexican entrepreneur Ricardo B. Salinas (, Grupo Salinas operates a as a management development and decision forum for the top leaders of member companies, TV Azteca (, Azteca America (, Grupo Elektra (, Banco Azteca (, Afore Azteca (, Seguros Azteca (, and Grupo Iusacell (  Each of the Grupo Salinas companies operates independently, with its own management, board of directors and shareholders.  Grupo Salinas has no equity holdings.  However, member companies share a common vision, values and strategies for achieving rapid growth, superior results and world-class performance.

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SOURCE Grupo Salinas