Grupo Salinas region and by 1987, 59 stores. Elektra Group became a publicly traded company listed on the Bolsa Mexicana de Valores, the Mexican Stock Exchange. In 1993, Grupo Elektra bought the Imevisión government television network and renamed it TV Azteca. TV Azteca created an initial public offering in 1997 on the Mexican and New York stock exchanges. In 2012, Grupo Elektra, a wholly owned subsidiary of Grupo Salinas, acquired Advance America for an estimated $780 million USD. In 2003, Grupo Salinas purchased the telecommunicaions company Iusacell and the mobile phone company Unefón. Iusacell was sold to AT&T in 2014, and rebranded
Mexicana de Aviación 1993, a reorganized Aeroméxico took over as the company struggled financially. During the mid-1990s, the Mexican economy was hard-hit by the devaluation of the Mexican peso and Mexicana, Aeroméxico, and their regional affiliates were nationalized when their parent company, CINTRA (Corporación Internacional de Transporte Aereo), was taken over by the government. The airlines remained in their merged state until 2005. As happened in 1967, a new management team was hired, this time headed by President and CEO, Fernando Flores. The company was reorganized and rationalized, with a new emphasis placed on international service. Unprofitable routes were cut and the DC-10s