NOT THE PRESIDENT Andres Manuel Lopez Obrador is talking nonsense or the undersecretary of the Treasury, Gabriel Yorioyou are wrong to suggest that Banamex could complement each other with the Wellness Bank.
Everything is part of an ongoing project for the government of the 4T to return the Mexicanidad to Banamexas is already the case with 13 plants that belonged to Iberdrola, or with wanting to revive Mexicana de Aviación.
Lopez Obrador wants to take control of Banamex as he knows how to do best: convincing his counterparts at the point of bills. The operator is his finance secretary, who for years has been close to Citibank.
Rogelio Ramirez de la O He was always a consultant to large companies. Citi has been one of the big clients of Ecanal, his consulting firm. It is he who wants you to desist from making your Initial Public Offering (IPO).
However, the CEO of Citi, Jane Fraser, He reiterated again on Friday that ruling out the sale of Banamex and opting for an IPO on the Stock Market is the best for shareholders.
AMLO offers Citi something it cannot refuse: Q4 corporate banking businessesin exchange for the infrastructure, retail banking, afore and cultural heritage of Banamex.
You give me Banamex and I give your new bank with which you will stay in Mexico to operate for the next few years, all the financial business of my government. That’s how easy and simple the offer is.
Issuance of government bonds and the comprehensive restructuring of Pemex’s debt, which amounts to more than 105 billion dollarswhere only this year 27 billion are due, are just two examples.
Another one that is late because its financing structuring has already been closed, and where Citi was left out, were the 6 billion dollars that they are raising for the purchase of the Iberdrola plants.
The new Olmeca Refinery in Dos Bocas could be another great deal for Citi, because there is an intention to mortgage it to recover part of the almost 20 billion dollars that it is costing.
The Mayan Train, the Interoceanic Canal of the Isthmus of Tehuántepec and the new commercial airline that the Secretary of National Defense will operate, are three other megaprojects that will require financing.
López has a year and a half left in his government, but how things look there will be 4T another six-year term and its strategy to buy back companies It will remain in a scenario where Claudia Sheinbaum I relieved him.
It will be Citi’s decision to make the leftist regime in Mexico its main client and partner in exchange for ceding the bank that it chose to take out in an IPO, or to fight with who has already shown that when he doesn’t win, he wins.
THE PRESIDENT ANDRÉS Manuel López Obrador On Thursday, in his morning conference, he referred to the issue that we raised here that same day: the frustration due to the legal impossibility of using the brand Mexican Aviation to put it on the new airline that the Secretary of National Defense (Sedena) will operate. He attacked the retirees who have an award in their favor, which gives them a preferential right to collect their salaries and other benefits over the rest of the workers. The National Palace tenant was particularly hard against the lawyers, one of whom is Juan Ivan Pena. López Obrador gave them a one-month ultimatum to cede the brand or withdraw the offer of 816 million pesos that he put on the table. But that same Thursday the retirees answered AMLO. They told him that they are the first to be interested in selling the brand, that they do not agree on how the money would be distributed and that he should review a letter that they sent him some time ago in which they explain their reasons, that insults their intelligence by stating that they are manipulated by lawyers that they themselves have hired since 2014 and they questioned that just as they heard him loud and clear in his conference, he is now willing to hear them.
THE FEDERAL INSTITUTE of Telecommunicationswho presides Javier Juarez Mojica, prepares a new cellular spectrum tender… without bidders. And it is that the price of the spectrum in Mexico is extremely expensive. In addition, given the preponderance of América Móvil, of Carlos Slim, Few possible bidders. Even AT&T, chaired by Mónica Aspe, is going to return some of the spectrum it has rather than acquiring it. As if that were not enough, in the global telecommunications sector the deployment of a government network that will be carried out by Manuel Bartlett’s CFE, which will be subsidized, is generating a lot of noise. If it begins to provide services directly to consumers instead of being a wholesale provider, as its concession and the telecommunications law say, there will be even less interest in the new 5G frequencies. The reality is that the appetite of the government of Andrés Manuel López Obrador to carry out business activities such as airports, airlines, ports, trains, mines and even banks, discourages investors. So I can tell you that said tender will not attract much interest and there will be no new players or more competition in Mexican telephony.
IN CANCUN A mega real estate development it is heating up the spirits of the hoteliers and tourists in the square. This is a plan that at the time the gas station concessionaires Emilio Loret de Mola, Ricardo Vega, William Karam and Carlos Mouriño tried to promote and which consisted of developing 2,500 rooms in one of the most oversaturated enclaves of the hotel zone: the Pok-Ta-Pok golf course. The complex of three towers of up to 30 floors each and a marina was left in limbo. Last week the opponents urged President Andrés Manuel López Obrador to comply with the sentence of a local court that annuls the authorization of the municipality that endorses the work. As far as is known, the four original businessmen have already transferred the nearly 57 hectares to none other than Marcos Salame and Elías Jafif, the owners of Bosque Real. We pass it on at cost.
UNIFIN, PRESIDED BY Rodrigo Lebois, is seeking new financing for 500 million dollars to revive its activities. The stock company once again knocked on the door of Nacional Financiera, which runs Luis Antonio Ramirez. The approach of the company directed by Sergio Camacho talks about obtaining these resources in a five-year horizon, starting in 2023 with a line of 50 million dollars. In 2024 it would be 150 million and so on until completing the total by 2027. Unifin is in bankruptcy and recently capitalized with 55 million dollars after selling its Frida oil platform to Value, owned by Carlos Bremer.
RICH CORPORATION, WHICH is directed by Miguel Ángel Guizado, inaugurates today the “Rain Schools” program in five educational institutes in Morelos, in conjunction with the Coca-Cola Foundation and the Isla Urbana civil association, with the aim of guaranteeing access to good quality water and the transformation of the culture of the vital liquid in students, teaching staff, fathers and mothers of family. Service will be provided to more than 1,500 students from the municipality of Cuautla, Morelos, through the installation of rain harvesting systems. The educational centers enrolled in the program will capture more than 982 thousand 677 liters per year, which is equivalent to more than 98 pipes of water.
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