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Thursday, July 29, 2010
Grupo Mexico proposed merger of railroad units
"We are expecting the notification ... of this ruling will be by the end of August," Octavio Ornelas, a director of the company's transportation arm, said on a conference call for investors....'If Cofeco appeals that ruling, then we will spend another six to nine months in order to have a positive ruling so we will have that consolidation ready by the end of the first quarter of next year,' he said....Ferromex and Ferrosur are clustered under Grupo Mexico's transportation division, Infraestructura y Transportes Mexico, or ITM...."
Posted by Elpaso at Thursday, July 29, 2010