Shareholders of Grupo Elektra, owned by tycoon Ricardo Salinas, at a meeting approved the privatization of the company and its exclusion from the Mexican stock market.
The company said this in a statement on Friday amid deep disagreements with the banking regulator over its performance in the local stock market.
Shareholders have appointed a new board of directors, in which its current president, Ricardo Salinas, will serve on an honorary basis.
He will be responsible for defining the strategy and reorganizing the company in this new phase in order to consistently strengthen all digital, financial and international capabilities of Grupo Elektra.
Shares of Grupo Elektra ELEKTRA.MX, which had been subject to intense volatility for weeks, rose 1.57% after the announcement, reversing their initial losses.
Here’s the full statement:
Source: Aristegui Noticias
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
