Grupo Mexico Drops Out of Argentina Rail Bid
Grupo Mexico has decided not to bid for Argentinas state-run cargo rail operator. The withdrawal deals a blow to President Javier Mileis privatization push. The firm previously sought control over both infrastructure and operations.
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GRUPO MEXICO SAB DE CV-SER B dropped a planned $3B investment in Argentina's Belgrano Cargas network on Wednesday afternoon. The conglomerate, backed by billionaire German Larrea, was previously a leading foreign suitor for the freight lines. The withdrawal threatens the government's push to attract private capital and lower high transport costs.
