Mexican airport operator GAP to appeal ruling on Grupo Mexico

Reuters, 1/17/2013

Photo by Flikr user anatamanMexico’s Grupo Aeroportuario del Pacifico said on Thursday it will appeal a judge’s decision that overturns an injunction preventing brokers from buying its shares on behalf of copper miner and railroad operator Grupo Mexico. GAP obtained the injunction almost a year ago as it sought to stop Grupo Mexico from accumulating GAP shares. But it said Thursday that brokers had appealed and a judge had lifted the restriction on trading GAP shares. The airport operator sought the injunction to safeguard its internal bylaws, which prohibit noncontrolling shareholders from holding a stake bigger than 10 percent.

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