Mexican glassmaker Vitro in talks with creditors, shares rise

Mexican glassmaker Vitro said on Monday that it is in talks with its creditors in the United States.

The company made the comment to Mexico's stock exchange in a short statement that did not give further details. Vitro has been fighting with creditors in the United States to win recognition for the restructuring process the company completed last year in Mexico. The company filed for bankruptcy in Mexico in 2010.

Hedge funds Aurelius Capital Management and Elliott International hold defaulted notes issued by Vitro subsidiaries and they have led legal proceedings against Vitro.

A lawyer for the creditors in Mexico could not immediately be reached for comment.

Vitro shares were up 13.37 percent at 24.50 pesos in early afternoon trading.