Mexico’s Federal Telecommunications Institute (Instituto Federal de Telecomunicaciones, IFT) has approved the takeover of an 18.29% stake in Altan Redes by Australian investment group Macquarie.
Open access 4G mobile network provider Altan Redes – which operates the Red Compartida network - was declared bankrupt in November 2021, but entered bankruptcy protection and continued its operations while restructuring into a public-private partnership. It exited bankruptcy protection in November 2022.
Mexican government body Nacional Financiera (NAFIN) is currently the largest shareholder in Altan Redes, with a combined direct and indirect interest totalling 80.43%. Macquarie’s newly obtained holding was previously controlled by China-Mexico Fund GP, a founding shareholder in Altan Redes.
TeleGeography reports that Red Compartida’s 700MHz network reached 73% of Mexico’s population at end-June 2023 – roughly 81.5 million people. Red Compartida is used by over 110 MVNOs, among them Izzi Movil, Megacable and Walmart’s Bodega Aurrera Internet y Telefonia (BAIT).
