Nuevo Grupo Iusacell (CEL) Message Board

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Technology Stocks : Nuevo Grupo Iusacell (CEL)

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To: Highway Jim who wrote (191)	1/14/2004 10:44:09 AM
From: Rob Preuss	of 206

Noteholders file complaint vs Mexico's Iusacell Wednesday January 14, 10:11 am ET MEXICO CITY, Jan 14 (Reuters) - Noteholders of a unit of Mexican cellphone firm Grupo Iusacell filed a complaint against the company in a U.S. court on Wednesday seeking to recover amounts due under $150 million 10 percent notes and citing concerns over owner Ricardo Salinas' corporate practices. Attorneys at law firm Manatt, Phelps & Phillips told Reuters the complaint, filed in the Supreme Court of the State of New York, was presented on behalf of several fund managers who hold 31.8 percent of Iusacell (NYSE:CEL - News; Mexico:CEL.MX - News) subsidiary Grupo Iusacell Celular's senior secured notes due 2004. The move puts further pressure on businessman Salinas, currently under scrutiny of U.S. and Mexican securities regulators because of his involvement in a controversial debt deal at his other mobile phone company, Unefon (Mexico:UNEFONA.MX - News). Defendants have about a month to respond to the complaint

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