AMLO Tightens Grip on Mexico Energy as Iberdrola Deal Gets Nod
- Antitrust regulator paves way to seal $6 billion sale
- Government would own 55% of the national electricity market
This article is for subscribers only.
President Andrés Manuel López Obrador tightened his grip on Mexico’s power industry Thursday after getting a green light to buy a majority stake in Iberdrola SA’s energy assets.
The deal achieves a key goal for the 70-year-old president who has sought to strengthen Mexico’s state energy producers and roll back pro-business reforms in the power generation sector passed by the prior administration. The deal had generated concern from international companies about the president’s statist interventions in the economy.