ALFA scraps Axtel sale despite multiple bidders

5 Jan 2021

Mexican industrial conglomerate ALFA has cancelled the sale of its telecoms unit, despite attracting a ‘double-digit’ number of bidders. The competitive sale process reached its second phase before ALFA called it off. On 21 December ALFA stated: ‘Following an exhaustive evaluation process, [ALFA’s] Board of Directors determined that it would be in the shareholders’ best interest to redirect efforts to attract strategic proposals for its two separate business units (Infrastructure and Services) and maintain all options open to maximise value.’

Mexico, Axtel