This deal pitted him "from the cell-telephone organization of Carlos Slender in South America's second-major economic climate" and "expanded Martínez's bets over and above holdings including cable property and Argentina's sovereign credit card debt as he seeks to take pleasure in expanding Website and video clip use on mobile devices."[twelve]
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A The Wall Avenue Journal post, published on November 10, 2013, explained Martínez's determination to speculate in Argentina "an unusual phone," on condition that "Argentina has been a cautionary tale For several traders because its 2001 default on $a hundred billion in sovereign financial debt" Which its last two presidents, Néstor Kirchner and Cristina Kirchner, experienced "repeatedly gone mano a mano with huge organization," nationalizing an oil business and searching for to pressure the Clarin media group to break up its organization.
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In March 2014 Martínez termed jointly numerous Associates of resources with holdings in Argentine bonds, With all the intention of commencing to barter a joint exit to the bondholders. José Luis Manzano, a media entrepreneur and former member of the Menem federal government, was also associated with the negotiations, and both of those he and Martínez "certain their partners which they had the acceptance of The federal government" to negotiate a offer. Reportedly, Martínez had requested JP Morgan to come up with a sexy supply with the bonds.[14]
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In response, American investor Paul Singer's organization, Elliott Associates, and also other hedge cash, which with each other owned about $seven-hundred million of Vitro's aged credit card debt, claimed that Martínez had served Vitro "muscle mass traders outside of many numerous pounds through financial sleight of hand," and accused Vitro of "audacity, brazen manipulation and greed.
[two] "There is scarcely any news about his moves, or pics of him on-line," described IB Times. "There is not any estimate of his wealth, Despite the fact that many have claimed that he's following inside the footsteps of fellow Mexican tycoon Carlos Trim to become the richest male on the globe."[7]