The Mexican conglomerate Alfa is set to become the sole shareholder of the telco Alestra after it agreed to acquire AT&T’s 49% stake.
A joint statement from Alfa and AT&T last week stated that the deal was still subject to regulatory approval from the…
The Mexican conglomerate Alfa is set to become the sole shareholder of the telco Alestra after it agreed to acquire AT&T’s 49% stake.
A joint statement from Alfa and AT&T last week stated that the deal was still subject to regulatory approval from the Mexican authorities, but it was expected to close in the second quarter of 2011.
The terms of the deal were not disclosed.
Alestra provides fixed-line telephone and broadband services mainly to business customers and institutions in Mexico.
The Alfa conglomerate now composes four divisions: Alpek in the petrochemicals sector; Nemak, which provides aluminium components for the car industry; Sigma in the refrigerated food sector; and Alestra.
Alfa said that the acquisition would support its growth strategy. It will continue to provide IT and telecoms services to institutions and businesses.
Alfa’s senior VP for development, Alejandro Elizondo, said: “Increasing our stake in Alestra will give us the opportunity to strengthen our strategy based on advanced IT and telecommunications solutions with an emphasis on the new generation of cloud computing services for the Mexican enterprise market and will open up additional strategic options for us.”
For its part, AT&T said that it would continue to offer services to multinationals through its subsidiary, AT&T Global Network Services.
AT&T’s VP for Canada, the Caribbean and Latin America, Mary Livingston, said: “Mexico is a critical market for AT&T, and we are committed to offering multinational enterprise customers operating in Mexico a wide range of advanced communications solutions.
“The transaction is consistent with AT&T’s global strategy for enterprise services directly,” she added.
