Bloomberg | By Jonathan Roeder and Crayton Harrison | Dec 17, 2010 2:43 PM CT
Grupo Iusacell SA, the Mexican mobile-phone carrier owned by billionaire Ricardo Salinas, filed for pre-arranged bankruptcy in Mexico, seeking a restructuring plan with creditors for the second time in four years.
A judge may rule on whether to begin bankruptcy proceedings next week, Gricelda Nieblas, head of the Federal Institute of Bankruptcy Specialists, a part of the judicial branch, said in a telephone interview today. Calls and e-mail messages to Iusacell’s press office weren’t immediately returned.
Salinas is seeking to revamp the wireless company, Mexico’s third-largest, after failing to gain ground against larger America Movil SAB and Telefonica SA since he bought control of the company in 2003. Iusacell began talks to renegotiate its foreign-currency debt in April 2009 and delisted its shares from Mexico’s stock exchange this year
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Iusacell Bankruptcy Filing May Get Ruling Next Week
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