Mexican holding company Grupo Alfa is planning to sell its telecoms business Axtel, according to reports.

The company announced plans in August to sell either the whole entity, or Axtel's infrastructure business. It has now had several approaches and hopes to pick a buyer for the whole company, and then complete the deal in 2020 or 2021.

Axing Axtel

"We received a two-digit number of attractive non-binding proposals for both alternatives," said Rolando Zubirán Shetler, general director of Axtel, who explained that Alfa now plans to opt for the total divestment of the telecommunications company.

"We believe that we will be able to close the transaction to sell the infrastructure business unit or the entire company within 12 months," added Álvaro Fernández Garza, general director of Alfa in a call with analysts.

The company reported that the results for this period were in line with the estimates for the year. Its business is supported by a solid performance of Axtel's infrastructure unit, and a steady line of work on digital transformation through its IT subsidiary Alestra, which works with public sector customers.

Axtel recorded total revenues of 3,095 million pesos ($146m) in the third quarter of this year, a figure close to that reported in the same period of 2019.

This story is a translation of an article on DCD's Spanish-language site. You can read the original here.