KCS gets more time to plan TFM strategy

KCS gets more time to plan TFM strategy

The Mexican Competition Commission has extended for six months its prior authorization of rail operator Kansas City Southern's purchase of all TFM S.A. de C.V. shares from Grupo TMM S.A., according to a statement released by KCS Friday.

KCS requested an extension as it plans its next step in a possible legal fight with TMM over a TFM acquisition agreement signed in April.

Grupo TMM shareholders on August 18 rejected the deal after more than a year of protracted negotiations between KCS and TMM, whose management terminated the sale a week after the shareholder vote,