Shares in Mexican broadcaster TV Azteca swing up after record fall
4:30 pm Thursday, March 23rd, 2023
MEXICO CITY (Reuters) – Shares in Mexican broadcaster TV Azteca closed up on Thursday by about 32%, after posting a record slump a day before, battered by uncertainly over its near-term prospects amid problems with creditors.
Stock in Mexico’s second-biggest broadcaster plummeted 31% on Wednesday after creditors of the firm filed an “involuntary petition” to place it in U.S. Chapter 11 bankruptcy protection, arguing the firm owes them more than $63 million.
(Reporting by Noe Torres and Valentine Hilaire; Editing by David Alire Garcia)
