CEL wins a court skirmish with bondholders.
The Supreme Court, New York County Denies Request vs. Iusacell
Wednesday July 7, 8:56 pm ET
MEXICO CITY, July 7 /PRNewswire-FirstCall/ -- Grupo Iusacell, S.A. de C.V. [BMV: CEL, NYSE: CEL] informs that on June 30, 2004, the Supreme Court, New York County entered a decision and order denying in its entirety the request of certain holders of 2004 senior notes that the Company be preliminarily enjoined from selling or otherwise transferring certain assets. This in connection with the extension of the lawsuit filed on January 2004, by certain holders of the Senior Notes due 2004 against our principal subsidiary, Grupo Iusacell Celular, S.A. de C.V. ("Iusacell Celular") and others.
About Iusacell
Grupo Iusacell, S.A. de C.V. (Iusacell, NYSE: CEL; BMV: CEL) is a wireless cellular and PCS service provider in Mexico encompassing a total of approximately 92 million POPs, representing approximately 90% of the country's total population.
Independently of the negotiations towards the restructure of its debt, Iusacell reinforces its commitment with customers, employees and suppliers and guarantees the highest quality standards in its daily operations offering more and better voice communication and data services through state-of-the-art technology, as the new 3G network, in more populations, thanks to its aggressive expansion plan. |
