Mexico's Federal Competition Commission last week rejected Mexicana's bid to acquire AeroMexico, ruling that a merger of the country's two largest airlines would be unfair to competitors and "unfavorable to consumers." Mexicana had put the highest of three bids on the table for AeroMexico, which is controlled by state holding company Consorcio Aeromexico (ATWOnline, Oct. 5). The regulatory rejection leaves the wealthy Saba family and Banamex, the Mexican arm of Citigroup, in an apparent ...

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