ALTAN Redes files for bankruptcy protection

14 Jul 2021

ALTAN Redes, the consortium which operates Mexico’s Red Compartida open access 700MHz network, has filed for bankruptcy protection, Reuters reports. The company has said it is seeking protection under Mexican law to renegotiate its debts. The news agency quotes a company spokesperson as saying that the company will ‘continue with the deployment of its network and the operation of the most important telecommunications project in the history of the country’.

According to TeleGeography’s GlobalComms Database, in November 2016 ALTAN Redes – a consortium including Axtel, Megacable and the International Finance Corporation (IFC) – was selected as the winner of a government tender to establish an open-access 700MHz wholesale network. Red Compartida went live in March 2018 and currently covers 72.782 million people, or 64.79% of the population.

The operator missed its January 2021 target, which was 70%. As per its original licence agreement, the network must cover 85% of the population by January 2022, 88.2% by January 2023 and 92.2% of the population by January 2024.

Mexico, ALTAN Redes (Red Compartida)