Alfa shareholders endorse Axtel spin-off

Alfa shareholders endorse Axtel spin-off

Funds Equity Asset Management Capital Markets Mexico Project & Infrastructure Finance Telecoms

Shareholders in Mexican conglomerate Alfa have approved a proposed spin-off of telecommunications subsidiary Axtel on the BMV stock exchange in Mexico City, according to a securities filing. The shareholders will receive one share in Axtel for every share they own in the parent company and also maintain their stakes in Alfa, the conglomerate said in the filing on Tuesday. "Alfa expects to complete the spin-off, listing and share distribution processes before year end, it added. Alfa spun off Nem

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