Grupo Mexico sells more shares in airport operator
MEXICO CITY Oct 19 (Reuters) - Mining giant Grupo Mexico further reduced its stake in Mexican airport operator Grupo Aeroportuario del Pacifico (GAP) to 20.7 percent, from 22.2 percent in September, according to a regulatory filing published on Monday.
Mexico's Supreme Court ruled in June in favor of GAP , ruling that Grupo Mexico must limit its shareholding in the airport firm, following a four-year dispute. GAP says its bylaws forbid any shareholder to have more than 10 percent of its outstanding stock.
The timeline for selling shares was not clear, however, from the court's decision. Shares in GAP closed down 0.4 percent at 146.56 pesos on Monday, though they have risen more than 35 percent since June. (Reporting by Noe Torres and Anna Yukhananov; editing by Grant McCool)
© Thomson Reuters 2017 All rights reserved.