UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 or 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of September, 2003
GRUPO IUSACELL, S.A. de C.V.
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(Translation of registrant's name into English)
Prol. Paseo de la Reforma 1236
Col. Santa Fe, Deleg. Cuajimalpa
05438, Mexico D.F.
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(Address of principal executive office)
Indicate by check mark whether the registrant files or will fill annual reports
under cover of Form 20-F or Form 40-F: Form 20-F |X| Form 40-F |_|
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g-3-2(b) under the Securities and Exchange Act of
1934. Yes |X| No |_|
Documents Furnished By the Registrant
1. Press Release of the Registrant dated September 12, 2003
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
GRUPO IUSACELL, S.A. DE C.V.
Date: September 15 2003 /s/ Jose Ignacio Morales Elcoro
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Name: Jose Ignacio Morales Elcoro
Title: Attorney in fact
/s/ Jorge Narvaez Mazzini
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Name: Jorge Narvaez Mazzini
Title: Attorney in fact
[LOGO] IUSACELL
Valora tu espacio INVESTOR CONTACTS
Jose Luis Riera K.
Chief Financial Officer
5255-5109-5927
Carlos J. Moctezuma
Head of Investor Relations
5255-5109-5759
carlos.moctezuma@iusacell.com.mx
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Iusacell Announcement
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Mexico City, September 12, 2003 - Grupo Iusacell, S.A. de C.V. ("Iusacell" or
the "Company") [BMV: CEL, NYSE: CEL] ("Iusacell" or the "Company") announced
today that on September 11, 2003, its main subsidiary, Grupo Iusacell Celular,
S.A. de C.V. (Iusacell Celular) received a notice of default and acceleration
(the "Notice") from a U.S. law firm representing an informal committee of
beneficial owners of approximately US$77 million in aggregate principal amount,
representing 51.3% of the total amount outstanding, of Iusacell Celular's 10%
Senior Secured Notes due 2004 (the "2004 Notes"). The notice of default arises
from Iusacell Celular's failure to make an interest payment on the 2004 Notes in
the amount of US$7.5 million due on July 15, 2003. Pursuant to the Notice, the
bondholders declared the entire unpaid principal balance of US$150 million and
all accrued and unpaid interest, including defaulted interest, to be accelerated
and immediately due and payable, pursuant to the Indenture governing the 2004
Notes.
The group of bondholders expressed their goal to establish a constructive
dialogue with the new management team of the Company and of Iusacell Celular
aimed to a fair outcome of a restructuring process for all stakeholders. The
Company reiterated its intention to maintain the dialogue with all its
creditors, including Iusacell Celular's 2004 Notes holders.
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About Iusacell
Grupo Iusacell, S.A. de C.V. (Iusacell, NYSE: CEL; BMV: CEL) is a wireless
cellular and PCS service provider in seven of Mexico's nine regions, including
Mexico City, Guadalajara, Monterrey, Tijuana, Acapulco, Puebla, Leon and Merida.
The Company's service regions encompass a total of approximately 92 million
POPs, representing approximately 90% of the country's total population.
This press release contains statements about expected future events and
financial results that are forward-looking and subject to risks and
uncertainties. For those statements, the Company claims the protection of the
safe harbor for forward-looking statements contained in the Private Securities
Litigation Reform Act of 1995. Discussion of factors that may affect future
results is contained in our filings with the Securities and Exchange Commission.