Axtel sold its Mass Market Business to Megacable for MXN1.1bn.

Axtel, a Mexican telecommunications company and a subsidiary of Alfa, a Mexican multinational conglomerate headquartered in Monterrey, sold its Mass Market Business to Megacable, a Mexican cable operator and provider of internet and phone service, for MXN1.1bn. Net proceeds from this transaction will be used to improve Axtel's capital structure. "With this transaction, we are concluding the divestment of the FTTx Mass Market business as part of our strategy to focus on the Enterprise and Government markets. The successful monetization of this business, together with the initiatives to engage with a strategic partner for our Data Centers business and the separation of our operations in two strategic units, reflect our commitment of maximizing value for our shareholders. Net proceeds from the transaction will be used to reduce debt and other liabilities, thus, improving our capital structure and reducing interest expense", said Rolando Zubirán Shetler, Axtel's President.