1996 Grupo Mexico bid on the Ferrocarriles Nacionales de Mexcio first concession... (privatization of Mexico rail roads)

"...Privatization of Ferrocarriles Nacionales de Mexico (FNM) is moving
ahead, although at a pace far slower than originally
anticipated--roughly one year behind schedule.

Mexico's Communications and Transport Ministry (SCT) was expected to
award the first concession in mid-October, the Chihuahua al Pacifico
short line, but rejected the bid of Grupo Mexico and South Orient
Railroad Co.--the only consortium that chose not to withdraw from the
proceedings--on Oct. 9 on the grounds that it did not come close enough
to the $50 million value that SCT set. Grupo Mexico/South Orient's ..."

http://www.encyclopedia.com/doc/1G1-18942089.html