Mexican retailer Elektra to propose going private
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MEXICO CITY, Nov 27 (Reuters) -Mexican retailer Grupo Elektra on Wednesday called a shareholders' meeting in which it will propose privatizing the company, which would make it the latest to exit Mexico's main stock exchange.
Trading in the retailer, controlled by magnate Ricardo Salinas, was beensuspended on and off for several months after the company said it had been informed by its controlling group regarding a possible fraud by depositaries of their shares.
Elektra said ina filing that 95% of its shareholders have expressed interest in taking the firm private, and will take the matter to a vote at the meeting, scheduled for Dec.27.
Elektra in recent dayshas complained about trading in its shares being reinstated and suspended, despite a provisional court order confirming that trading not take place.
Reporting by Raul Cortes; Editing by Kylie Madry
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