The titles of Grupo México Transportes, lost 3.7% to 38.5 pesos, with an accumulated decline of around 7% in the last two sessions. While the shares of its parent, Grupo México, fell 3% to 77.9 pesos, with which they also accumulate a drop of 7% in the last two days.
With this decrease, the capitalization value of Germán Larrea’s company reaches 601,781 million pesos, a loss of around 50,400 million pesos in the last two sessions.
Facilities of the Ferrosur unit of Grupo México in the Coatzacoalcos-Medias Aguas section, in the state of Veracruz, were occupied by members of the Navy on Friday, after the president, Andrés Manuel López Obrador, decreed the temporary occupation of around 120 kilometers of the company’s railway network for reasons of public utility.
Over the weekend, the company said it was continuing to analyze the scope and effects of the decree to occupy the facilities. This Monday, López Obrador assured that lawyers from Grupo México proposed to the government that it pay the company 9.5 billion pesos as compensation and revealed that they had been in talks for an agreement prior to the publication of the decree, but that they came to nothing.
With information from Reuters.