Updates share price, adds background
Dec 23 (Reuters) – Shares of bankrupt Mexican carrier Grupo Aeromexico AEROMEX.MX fell almost 15% after surging more than 10% on Thursday in volatile trading in the wake of restructuring measures announced last week.
The stock hit a historic low last week after the airline said its existing shares would be subject to a public tender offer by an unnamed third party valuing them at 0.01 peso each.
Analysts attributed this week’s rise to speculation and predicted more volatility until the restructuring plan is clarified.
Aeromexico said in a statement after markets closed on Wednesday that Sociedad Alinfra submitted a formal request to carry out the tender offer, in line with the airline’s plans.
(Reporting by Valentine Hilaire; Editing by Drazen Jorgic and Richard Chang)
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