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Telco unit of Mexico's Alfa to merge with Axtel

01/10/2015
16:49
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Axtel would remain independently traded, and would issue new stock to leave Alfa 51 percent of the new company.

Mexican telecommunications firms Alestra, a unit of industrial conglomerate Alfa, and Axtel announced they would merge on Thursday to better rival Carlos Slim's America Movil, which currently dominates the market.

Axtel would remain independently traded, and would issue new stock to leave Alfa 51 percent of the new company, the two firms said in a joint statement.

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