In relation to its press release issued on 30 April 2008, Vitro S.A.B. de C.V. said in a release on 26 June 2008 that in addition to evaluating other legal actions, it has filed suit against Banco Nac…
In relation to its press release issued on 30 April 2008, Vitro S.A.B. de C.V. said in a release on 26 June 2008 that in addition to evaluating other legal actions, it has filed suit against Banco Nacional de Mxico, S.A., Institucin de Banca Mltiple (Banamex) and a subsidiary of Grupo Financiero Banamex, S.A. and of Citigroup, requesting that the court declare null and void the acquisition and ownership of Vitro“s common shares by Banamex due to the violation of Vitro rules on the matter. Vitro currently forbids foreign individuals or entities, as well as Mexican companies that allow foreigners to own any of their shares, from owning or acquiring Vitro“s issued common shares. In violation of this rule Vitro holds that the acquisition of its shares shall be null and void and that Vitro will not recognize the purchaser“s entitlement to exercise any of the common share“s corporate or financial rights. Foreign individuals and companies wishing to acquire an interest in Vitro are entitled to buy Vitro ADR“s traded on the New York Stock Exchange. The Mexican courts have granted a petition by Vitro to immobilize such common shares, pending definitive resolution of the action filed by the glassmaker.