Mexico & Nafta - May 2005 (ISSN 1741-444X)

TV Azteca: The finance minister, Francisco Gil Dí­az, launched a case against the controller of Mexico's second-biggest broadcaster, TV Azteca, on 28 April. Azteca's controlling shareholder, Ricardo Salinas Pliego, has been close to President Vicente Fox, but he has also fallen foul of the US Securities & Exchange Commission. Gil said that Salinas should be prosecuted for using insider information to buy and sell shares. The SEC filed charges against Salinas in January that he had benefited to the tune of US$109m from a capital restructuring. The SEC alleges that some elements of the restructuring, which involved a debt buyback, were fraudulent.

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