Railroads Fall on Mexican Bill
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Railroads Fall on Mexican Bill
By Thomas Black
Kansas City Southern (KSU), the U.S. railroad that gets almost half its revenue from Mexico, fell the most in the Standard & Poor’s 500 Index after the lower house of Mexico’s Congress approved a bill to increase rail competition.
The legislation, which would give third-party companies access to now-exclusive rail networks, now goes to the Mexican Senate for a vote, Anthony Gallo, a Wells Fargo & Co. analyst, said in a note today. Kansas City Southern operates a Mexican railroad under a 1997 government concession that extends to 2027, he said.
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