Salinas Wealth Hangs in Balance as Elektra Trading Stalled
- Share bids exceeded 15% drop used as a circuit breaker
- Elektra is the flagship holding of Mexican billionaire Salinas
Trading in Ricardo Salinas Pliego’s flagship holding company, Grupo Elektra, remained halted as bids triggered a circuit breaker for a second straight session, stalling transactions that would slash the billionaire’s net wealth.
The highest bids on Monday were around 420 pesos per share, compared with the 944.95 pesos the stock last traded at in July, according to data compiled by Bloomberg. Trading is automatically halted by the Mexican stock exchange when a share falls more than 15%.