The head of Banamex, Oscar Medina-Mora, says that the funds are not to blame.

ECONOMIST: Are Mexico's successful funds too cautious?

Banamex does not have access to bags of foreign capital, which is one reason why Bancomer turned its offer down.

ECONOMIST: Mexican banks

Banamex, a big bank, has called your correspondent every day for two years because its call centre is unable to correct wrong numbers.

ECONOMIST: Mexican banks

Banamex claims it can launch legal action in New York because of its affiliation with an organisation called The Media Channel, which is also based in the city.

BBC: Drugs case tests net boundaries

Mariasun is president of the Councils of Tresalia Capital, KIO Networks and Network Abilia Universalia, and a member of the boards of Grupo Financiero Banamex and Tory Burch.

FORBES: Maria Asuncion Aramburuzabala & family

After having fallen bellow the 1 billion benchmark a few years ago, Maria Asuncion Aramburuzabala ( Grupo Modelo) and Alfredo Harp Helu (Banamex) are back in the rankings.

FORBES: Mexican Billionaires Have Strong Year, With 18.4% Increase In Wealth

Avantel's Mexican shareholder is Banamex, the country's biggest bank.

ECONOMIST: Mexico

She won't detail other holdings either, but she is reported to control a 1% stake in banking giant Banamex, in addition to the 10% of Grupo Modelo she is still believed to own.

FORBES: Brewing Change

Many fear that if Banamex wins its case, free speech could be restricted because powerful corporations will be able to launch gagging orders against websites anywhere in the world publishing information they would rather not see aired.

BBC: Drugs case tests net boundaries

Ostensibly, Banamex has launched its libel action because Mr Giordano and Mr Menendez repeated the allegations in lectures and radio interviews held during a New York publicity tour and not just because Narco News is hosted in the city.

BBC: Drugs case tests net boundaries