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Mexican magnate’s firm says it’s too poor to pay US bondholders the tens of millions owed

MEXICO (AP) — The company run by Mexican TV, retail and banking magnate Ricardo Salinas Pliego says it has failed to reach agreement with bondholders in the United States who are owed tens of millions of dollars in past-due payments. His TV Azteca company issued a statement Tuesday saying it needed a restructuring of bonds that come due in 2024 because business was so bad. It also a resolution couldn’t be reached in court-ordered mediation. It is an usual situation for Salinas Pliego, who frequently takes social media to hand out money or merchandise. He also often posts insults targeting political figures he disagrees with, as well as photos showing his lavish lifestyle, with yachts and expensive vehicles.

Article Topic Follows: AP-National

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Associated Press


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