Open Source Content Management

The U.S. company Verizon Communications acquired Tracfone Wireless, subsidiary of América Móvil in the United States for 6.250 million dollars in cash plus common shares of Verizon. The amount is subject to adjustments in function of certain performance goals during 24 months and a commercial agreement, which would be a return for the seller of up to 650 million additional dollars.

On September 25, 2020, the Head of Government of Mexico City published in the Official Gazette the Twenty-Second Notice announcing the color of the Epidemiological Traffic Light for Mexico City, and the modification of the Guidelines for the Execution of the Gradual Plan toward the New Normality in Mexico City (hereinafter, the Notice).

Under the United States-Mexico-Canada Agreement (hereinafter the USMCA), it is possible for Mexican manufacturing or services companies that deny their workers certain collective rights to be sanctioned. The sanctions may include the elimination of the preferential tariff treatment on the merchandise they export, fines and even the denial of access of the merchandise to such market in the case of recurrence.

Von Wobeser y Sierra S.C. has helped global pharmaceutical company Merck sign a power-purchase agreement (PPA) in Mexico with Spanish power generation company Iberdrola.

Mexico’s América Móvil has hired Cleary Gottlieb Steen & Hamilton LLP in New York to sell its prepaid mobile services provider, TracFone, to US counterpart Verizon in a deal totalling US$6.9 billion. Debevoise & Plimpton LLP’s offices in New York and Washington, D.C. and Von Wobeser y Sierra S.C. in Mexico City helped Verizon in the deal, which was announced on 14 September.

This past September 8, the Federal Executive presented the economic package for the fiscal year 2021 (“FEP 2021”) to the Congress of the Union. It contemplates, among other things, the proposal of the Federal Revenue Law for Fiscal Year 2021, and the proposal of Decree (“Decree”) amending provisions of the Income Tax Law (“IT”), Value Added Tax Law (“VAT”), Special Tax on Production and Services Law (“STPS”), and the Federal Tax Code (“FTC”).

Mexico’s competition watchdog has launched an abuse of dominance investigation into the digital advertising services market to determine whether market participants are complying with competition rules.

Since the previous decade, Latin America promised to confront corruption, and it seemed that Brazil would lead the cause. The first results of the emblematic Lava Jato operation came to light in 2014 and to this day it is generating consequences, not only for Brazil, but for a dozen other countries, including the United States.

As you may be aware, due to the Reform of the Federal Labor Law on May 1, 2019, some amendments to legal provisions have arisen, proposals for labor reforms, as well as the measures to confront the pandemic caused by the SARS-CoV-2 (COVID-19) virus, labor matters have gained great relevance, not to mention all the changes that must be implemented in collective bargaining matters in order to comply with the USMCA.