Baker McKenzie advises Axtel on FTTH sale to Televisa
Law firm Baker McKenzie has acted for Mexican telecommunications company Axtel in the divestiture of part of its fibre-optic-to-home (FTTH) business to local media giant Televisa.
Axtel’s divestiture of its FTTH business is consistent with its strategy to concentrate on the provision of state-of-the-art IT and value-added services to its corporate and government customers, according to the law firm.
The proceeds of the transaction will be used to reduce the company’s debt, and will contribute to improving the financial expenditure and its debt leverage, further creating value for its stakeholders, according to Roland Zubirán CEO of Axtel.
The assets were purchased at a cost of 14.7 billion pesos ($732 million) and are located in the cities of Aguascalientes, Ciudad Juárez, Monterrey, San Luis Potosí and Zapopan, according to local media reports.
Baker McKenzie lawyer Carlos R. Valencia led the team advising Axtel, which was also advised by Ernesto Dunhe, of law firm Santamarina y Steta.
Axtel’s in-house team was made up of Pedro Abdo and Ricardo García de Quevedo, while
Televisa was counseled by its in-house lawyer Carlos Farjat and Eugenio Macouzet, of Mexico City-based law firm Mijares Angoitia Cortes y Fuentes
