Iusacell misses US$33.2mn debt payment
Bnamericas Published: Monday, May 31, 2004
Mexican wireless telco Iusacell (NYSE: CEL) missed a US$33.2mn payment on its outstanding US$266mn debt, the company said in a statement on Monday. The troubled firm was purchased by Mexican billionaire Ricardo Salinas last year. The company carries around US$800mn of debt that has not been refinanced for months. Investors have filed several lawsuits against the company after a debt restructuring scandal broke in December 2003. Salinas also presided over a controversial deal to transfer assets from Iusacell to a fellow Grupo Salinas board member and business associate. Salinas also owns cable company TVAzteca (NYSE: TZA) and wireless firm Unefon.
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The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
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