Connect with us

International Circuit

Altan Redes files for bankruptcy protection in Mexico

Mexican telecommunications company Altan Redes, which has since 2016 been developing an ambitious telecommunications network built for carriers delivering the latest generation of technology, said on Tuesday that it has filed for bankruptcy.

The shared network is part of a reform to the sector aimed at curbing the dominance of the giant America Movil, controlled by the family of billionaire Carlos Slim, and improving the low levels of mobile phone penetration and network coverage.

In a statement, Altan Redes said it was seeking protection under Mexican law to renegotiate its debts.

It said it would “continue with the deployment of its network and the operation of the most important telecommunications project in the history of the country”. Reuters

Click to comment

You must be logged in to post a comment Login

Leave a Reply

Copyright © 2023 Communications Today

error: Content is protected !!