Barely a day goes by without Mexican President Andres Manuel Lopez Obrador berat...
MEXICO CITY - Barely a day goes by without Mexican President Andres Manuel Lopez Obrador berating business and political elites, whom he blames for fueling the country’s poverty and corruption.
What some business heavyweights describe as an improving relationship yielded fruit in August, when Lopez Obrador backed off a threat to tear up several government contracts awarded to private companies to build and operate natural gas pipelines. The president said the deals ripped off taxpayers. But business leaders warned him the cancellations would spook foreign investors and could disrupt ongoing trade negotiations with the United States, the executives and officials said.
A firm believer in the reforming power of government, Lopez Obrador has pledged to strengthen Mexico’s leading state-run enterprises - oil firm Petroleos Mexicanos and power utility the Comision Federal de Electricidad . “They’re worried to death about what’s going on,” Rozental said. “The uncertainty, the disincentivization of private sector involvement in the economy.”
As one of the contractors, Slim’s Grupo Carso was once again in the firing line. So were Canada’s TC Energy Corp; IEnova, a Mexican unit of U.S. company Sempra Energy; and Fermaca, a local gas pipeline operator owned by Swiss private equity firm Partners Group AG. In late August, Lopez Obrador announced the CFE had reached a deal with the companies that would realize savings for taxpayers and avoid a messy legal dispute. He thanked Salazar, del Valle and Slim for helping make it happen.
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