Mexican entrepreneur Ricardo Salinas Pliego, who recently purchased a 28.5% stake in struggling electronics retailer Circuit City, may increase his stake to become the company’s largest shareholder and is considering the purchase of the company to take it out of bankruptcy, according to a Sentido Comun report.  Salinas Pliego is the majority owner of Mexican appliance retailer Grupo Elecktra, which also owns Mexican bank Banco Azteca.  

Both Grupo Elektra and Banco Azteca are affiliated with Grupo Salinas, which has no equity holdings but operates as a management entity and decision forum for the executives of Grupo Salinas member companies, which also include TV Azteca, Azteca America, Seguros Azteca, Afore Azteca, Iusacell, Unefon, Movil@ccess, and Azteca Internet.