Salinas rejects Sheinbaum's bank-bailout allegation and seeks open records

The Grupo Salinas chairman says Elektra paid for shares in Salinas y Rocha rather than receiving a rescue through Fobaproa.

Channel: Azteca Noticias ·

MexicoStory of November 12, 2026Trari Newsroom

Why this story? One of Azteca Noticias's most watched videos since yesterday, with 259,395 views.

Azteca Noticias: The news division of TV Azteca, a Mexican television network of the Salinas group. 5M subscribers and 4.9B views.

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Ricardo Salinas Pliego is disputing President Claudia Sheinbaum's account of his companies' connection to Mexico's bank bailout, arguing that buying a struggling retailer was not the same as benefiting from a government rescue.

Mexico's Azteca Noticias carries his recorded response to remarks at the president's morning press conference at the National Palace. The broadcaster is part of Grupo Salinas, the business group he chairs.

The dispute concerns Fobaproa, the bank-rescue fund associated with Mexico's financial crisis in the 1990s. Its handling of banks' troubled assets and the resulting public burden have remained politically contentious.

In the video, Salinas says Sheinbaum linked him to the bailout through Salinas y Rocha and the creation of Elektra. He rejects that account and accuses her of deliberately confusing the public and damaging his reputation.

His explanation draws a distinction between two transactions. According to Salinas and the presenter's account of his position, Elektra bought shares in the bankrupt Salinas y Rocha from a group of bankers in 1999. Salinas says the bankers separately transferred troubled assets to Fobaproa under decisions made by the government of that period.

He says Elektra contributed $80 million to acquire the shares, arguing that this reduced the rescue's losses rather than adding to them. He goes further, saying the president should thank him. The report's description also says he wants the Fobaproa files opened so the public can see who benefited.

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