Reuters – Mexico said it plans to auction high-speed mobile phone spectrum in 2015 for the first time in five years as the government seeks to ramp up competition in a sector long dominated by tycoon Carlos Slim.
Reuters – Mexico’s tax collection agency (SAT) has reached a deal with a multinational company at the center of a tax-avoidance investigation, and the latter will make a ‘substantial’ payment soon. The company was not named, but Reuters reported that toymaker Hasbro, along with household product maker Procter & Gamble, were at the heart of the tax probe.
Reuters – Mexico’s competition regulator on Sunday approved AT&T Inc’s $1.7 billion purchase of local cellphone company Iusacell, with unspecified conditions, a statement said.
Undercurrent News – Regal Springs’ Mexican subsidiary, Acuagranjas Dos Lagos, has secured $10 million funding for an expansion to its tilapia operations. The project will help address increasing demand for tilapia in Mexico and in global markets, and help efforts to reduce pressure on wild fish stocks.
Reuters – A Grupo Bimbo subsidiary has agreed to buy the bakery division of Canada’s Saputo Inc. for $103.38 million subject to conditions, including the approval of Canada’s Competition Bureau.
Sentido Comun – The Santa Fe Hotel Group has completed the purchase of a full service hotel in Cancun that will become the first to be managed under its new brand Krystal Urban, which focuses on the business sector.
Sentido Comun – Fibra Inn has completed the purchase of two limited-service hotels in Chihuahua and Toluca, which operate under Wyndham’s Microtel Inn & Suites brand.
Sentido Comun – Constellation Brands, the largest producer and distributor of Grupo Modelo beer brands, struck a deal with Owens Illinois to acquire and operate a glass plant in Nava , Coahuila, currently owned by Anheuser-Busch InBev.
Milenio – Grupo Lala has acquired the assets of Eskimo and its subsidiaries in several countries in Central America, significantly expanding its business and operations in that region.
Bloomberg – Grupo Mexico is in negotiations to buy a 20 percent stake as the first step to take control of the company, newspaper Gestion said, without naming its sources.