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Mexican banks buy into TV Azteca for $230 million

Published on .

MEXICO CITY -- Three Mexican banks have bought 27% of TV Azteca, the smaller of Mexico's two terrestrial broadcasting operations and once a state broadcaster, for $230 million.

TV Azteca President Ricardo Salinas Pliego says the buyers are Inbursa bank and GBM-Atlantico, which both bought 40% of the 27% share available, and Bital bank (20%). The shares are non-voting and no bank officials will sit on the board, says Salinas Pliego.

Copyright July 1996 Crain Communications Inc.

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