Articles tagged with: Grupo Iusacell and Tim

Mexico's Grupo Iusacell Losses Deepen on Currency Depreciation

Mexico based mobile network operator, Grupo Iusacell has reported that its first quarter revenues rose slightly to Ps.2.9 billion (US$207 million), compared to Ps.2.8 billion (US$200 million) in the same period in 2008. The company registered a net loss of Ps.678 million (US$48.5 million), compared to net loss of Ps.279 million (US$20 million) for the same period of the previous year. The result was primarily due to foreign exchange losses as a result of the depreciation of the peso during this quarter.  more

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