Bloomberg News

Mexico Stocks: America Movil, Genomma Lab, Bimbo Advance

October 10, 2011

Oct. 10 (Bloomberg) -- The following companies had unusual price changes in Mexico trading. Stock symbols are in parentheses and prices are as of 3:20 p.m. local time.

The IPC index gained 1.6 percent to 33,547.24.

America Movil SAB (AMXL MM), the wireless carrier controlled by billionaire Carlos Slim, rose 2.6 percent to 14.91 pesos. The company said it obtained an approval from Mexico’s securities regulator to make an offer to buy the Telefonos de Mexico SAB (TELMEXL MM) shares it doesn’t own. The offer to buy the 40 percent of the phone company known as Telmex will be valid from Oct. 11 to Nov. 11, America Movil said in a statement sent to the stock exchange today. Shares of Telmex rose 0.3 percent to 10.45 pesos.

Genomma Lab Internacional SAB de CV (LABB MM), the Mexican producer of over-the-counter drugs, added 2.5 percent to 25.38 pesos, the highest in a month. The company has gained for seven days, its longest streak since August 2010.

Grupo Bimbo SAB (BIMBOA MM), the world’s largest bread maker, rose 0.4 percent to 27.93 pesos. The Mexico City-based company agreed to buy the bakery unit of Sara Lee Corp. (SLE US) in Spain and Portugal for 115 million euros ($157 million), which will permit it to gain entry into the European market, Bimbo said in a statement today. The deal, which needs regulatory approval, is expected to close within 60 days, Sara Lee said in a separate statement.

Grupo Mexico SAB (GMEXICOB MM), the country’s largest mining company, advanced 2.4 percent to 32.99 pesos. Copper for December delivery gained 3.1 percent on the Comex in New York.

Mexichem SAB (MEXCHEM* MM), the largest maker of plastic pipes in Latin America, declined 5.1 percent to 38.99 pesos, the lowest since November 2010.

--Editors: Glenn J. Kalinoski, Richard Richtmyer

To contact the reporter on this story: Katia Porzecanski in New York at kporzecansk1@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net


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