Cuatrecasas advised Multitel on telecom PPP in Mexico
Cuatrecasas acted for Multitel in setting up the consortium and throughout the bidding process for Mexico´s largest telecom project to date.
Mexico’s Ministry of Communication and Transport SCT has awarded the 20-year contract for the shared broadband network PPP to the Altan consortium.
Multitel, a company owned by Spanish businessman Eugenio Galdón, is the technological partner in Altan. The consortium also includes Morgan Stanley Infrastructures, the World Bank through International Finance Corporation, CDPQ (the second largest pension fund in Canada), Axtel and Megacable. The project has a capital provided by its shareholders of $750 million and initial financing of over $2 billion.
The shared network will be implemented through a public-private partnership involving investment of over $7 billion throughout the concession’s lifetime. Once built, the new mobile network will provide coverage to 92.2% of Mexico’s population.
Partners Javier Villasante, Mariano Ucar and Santiago Ferrer in Mexico, and Andrés Sánchez in Madrid led the Cuatrecasas team advising Multitel.