The Mexican glass company Vitro SA said that claims it is planning to sell its stake in another Mexican firm, the chemical and textile firm Cydsa SA, are no more than rumours. Shares in Vitro rose ove…
The Mexican glass company Vitro SA said that claims it is planning to sell its stake in another Mexican firm, the chemical and textile firm Cydsa SA, are no more than rumours. Shares in Vitro rose over 8% as a result of the rumours it would sell its 49.5% stake. Meanwhile, one analyst at US firm Arnhold and S. Bleichroeder said he has started coverage of Mexico“s Vitro SA with a buy recommendation. He made the recommendation on the basis of Vitro“s low valuation and expected turnaround of profits after the sale of US operation Anchor Glass to Canada“s Consumers Packaging.