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Technology Stocks : Nuevo Grupo Iusacell (CEL)
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To: Nancy Haft who wrote (76)9/19/2000 3:31:53 PM
From: Rob Preuss   of 206
 
[Iusacel shares fall 7.7% in Mexican market.]

Tuesday September 19, 2:15 pm Eastern Time

Mexico Iusacell shares track ADR's, fall 7.7 pct

MEXICO CITY, Sept 19 (Reuters) - Shares in Mexico's second
mobile phone operator, Iusacell , shed 7.73 percent on
Tuesday, which traders attributed to a realignment with the
price of the company's American Depositary Receipts (ADRs) in
New York.

Iusacell shares fell 90.0 centavos to 10.74 pesos on the
Mexican stock exchange, while its ADRs (NYSE:CEL - news)
slipped $0.50 to $11.50.

``I see no other reason than an adjustment with its ADRs,''
one dealer said. ``Few shares have been traded and the price
is just being compared with New York,'' he added.

Turnover of Iusacell shares on the Mexican stock market was
barely 8,000 shares.

Analysts said the slide in Iusacell shares was also due to
investors preferring Telcel, the No. 1 mobile phone operator
in Mexico.
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