UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549
                               -------------------

                                   SCHEDULE TO

          Tender Offer Statement under Section 14 (d) (1) or 13 (e) (1)
                     of the Securities Exchange Act of 1934
                               -------------------

                          GRUPO IUSACELL, S.A. DE C.V.
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                       (Name of Subject Company (Issuer))

                              FINTECH ADVISORY INC.
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                       (Names of Filing Persons (Offeror))

                                 SERIES V SHARES

                           AMERICAN DEPOSITARY SHARES,
                    EACH ADS REPRESENTING 100 SERIES V SHARES
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                         (Title of Class of Securities)

                                40050B209 (ADSs)
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                      (CUSIP Number of Class of Securities)

                                  Julio Herrera
                              Fintech Advisory Inc.
                                 375 Park Avenue
                               New York, NY 10152
                                 (212) 593-4500

                                    Copy to:
                             Richard J. Cooper, Esq.
                       Cleary, Gottlieb, Steen & Hamilton
                                One Liberty Plaza
                            New York, New York 10006
                                 (212) 225-2000
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                 (Name, Address and Telephone Numbers of Person
  Authorized to Receive Notices and Communications on Behalf of Filing Persons)







                            CALCULATION OF FILING FEE

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Transaction Valuation: Not applicable       Amount of Filing Fee: Not applicable
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|_|      Check the box if any part of the fee is offset as provided by Rule
         0-11(a)(2) and identify the filing with which the offsetting fee was
         previously paid. Identify the previous filing by registration statement
         number, or the Form or Schedule and the date of its filing.

        Amount Previously Paid:  None              Filing Party: Not applicable
        Form or Registration No.: Not applicable   Date Filed: Not applicable

|X|      Check the box if the filing relates solely to preliminary
         communications made before the commencement of a tender offer.

Check the appropriate boxes below to designate any transactions to which the
statement relates:

|X|      third-party tender offer subject to Rule 14d-1.
|_|      issuer tender offer subject to Rule 13e-4.
|_|      going-private transaction subject to Rule 13e-3.
|_|      amendment to Schedule 13D under Rule 13d-2.

Check the following box if the filing is a final amendment reporting the results
of the tender offer: |_|







         This Tender Offer Statement on Schedule TO relates to a planned tender
offer by Fintech Advisory Inc., a Delaware corporation ("Fintech"), for all of
the outstanding shares of capital stock of Grupo Iusacell, S.A. de C.V., a
sociedad anonima de capital variable organized and existing under the laws of
the United Mexican States ("Iusacell").

         The communications contained herein are neither an offer to purchase
nor a solicitation of an offer to sell shares of Iusacell. At the time the
tender offer is commenced, Fintech intends to file a Tender Offer Statement on
Schedule TO containing an offer to purchase, forms of a letter of transmittal
and other documents relating to the tender offer. Fintech intends to mail these
documents to the stockholders of Iusacell. These documents will contain
important information about the tender offer and stockholders of Iusacell are
urged read them carefully when they become available. Stockholders of Iusacell
will be able to obtain a free copy of these documents (when they become
available) at the website maintained by the Securities and Exchange Commission
at www.sec.gov. In addition, stockholders will be able to obtain a free copy of
these documents (when they become available) from Fintech by contacting Fintech
at 375 Park Avenue, Suite 3602, New York, New York 10152, Attn: Elizabeth
Ferrone Guarnieri.

Item 12. Exhibits.

Exhibit 99.3        Letter, dated July 18, 2003, from Bell Atlantic
                    International, Inc., Bell Atlantic Latin American Holdings,
                    Inc., Bell Atlantic New Zealand Holdings, Inc. and Vodafone
                    Americas B.V. to Fintech Advisory Inc.

Exhibit 99.4        Letter, dated July 18, 2003, from Fintech Advisory Inc. to
                    Verizon Corp. and Vodafone Group PLC








                                  EXHIBIT INDEX

Exhibit Number             Description
--------------             -----------

  99.3              Letter, dated July 18, 2003, from Bell Atlantic
                    International, Inc., Bell Atlantic Latin American Holdings,
                    Inc., Bell Atlantic New Zealand Holdings, Inc. and Vodafone
                    Americas B.V. to Fintech Advisory Inc.

  99.4              Letter, dated July 18, 2003, from Fintech Advisory Inc. to
                    Verizon Corp. and Vodafone Group PLC