Mexico's president-elect says he'll stop US copter purchase

Associated Press |

MEXICO CITY (AP) — Mexican President-elect Andres Manuel Lopez Obrador says he will cancel the pending purchase by Mexico's navy of eight armed Lockheed Martin MH-60R helicopters from the United States government.

Lopez Obrador mentioned nixing the planned $1.2 billion deal Wednesday as an example of extensive cost-cutting measures his government will undertake.

In April, the U.S. State Department approved the sale of the helicopters, saying it would improve the security of a strategic regional partner. In its statement then, it said the helicopters would help Mexico fight criminal organizations.

The State Department's Bureau of Political Military Affairs did not immediately respond to a request for comment on the status of the proposed sale.

Lopez Obrador won Mexico's election in a landslide. He is to take office .

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Comments


Watchlist

Symbol Last Price Change % Change
AAPL

     
AMZN

     
HD

     
JPM

     
IBM

     
BA

     
WMT

     
DIS

     
XOM

     

World Economic Forum at Davos 2019 - Dr Oliver Krause Founder Untitled Inc Part 2

Matt Bird sits down with Dr Oliver Krause, Founder Untitled Inc, in part 2 of this 2 part interview at the World Economic Forum at Davos 2019

Emerging Growth

Goldrea Resources Corp.

Goldrea Resources Corp is engaged in the acquisition, exploration and development of mineral properties located in North America.