AT&T* and ALFA, S.A.B. de C.V. (ALFA) today announced they have reached an agreement for ALFA to acquire AT&T’s 49% stake in Alestra, S. de R.L. de C.V. (Alestra), the Mexican telecom company. Once this acquisition is completed, ALFA will be the sole shareholder of Alestra.
With this agreement, ALFA will increase its ownership in Alestra and will support the company´s growth strategy. Alestra will continue specializing in providing services to a full set of enterprise clients such as the corporate enterprise market, public and institutional sectors and small and medium businesses in Mexico with the most advanced IT and telecom solutions. In parallel, AT&T intends to continue to offer a comprehensive suite of enterprise communications solutions to multinational enterprise customers through its subsidiary AT&T Global Network Services Mexico.
AT&T and Alestra are committed to delivering the highest quality of service to customers throughout this transition. And the two companies will continue working together in the delivery of advanced enterprise solutions to multinational businesses in Mexico. The result will be an even more robust communications marketplace in Mexico, for both companies.
“Increasing our stake in Alestra will give us the opportunity to strengthen our strategy based on advanced IT and telecommunications solutions with an emphasis on the new generation of cloud services for the Mexican enterprise market and will open up additional strategic options for us,” said Alejandro Elizondo, ALFA’s Senior Vice President, Development.
“Mexico is a critical market for AT&T, and we are committed to offering multinational enterprise customers operating in Mexico a wide range of advanced communications solutions,” said Mary Livingston, AT&T’s vice president for the Canada, Caribbean and Latin America region. “This transaction is consistent with AT&T’s global strategy for providing enterprise services directly. We highly value the outstanding work AT&T is doing with ALFA and Alestra, and we’re confident that we will keep working together for our customers.”
The equity sale is expected to close in the second quarter of 2011, subject to regulatory approvals from Mexican authorities. The amount of the transaction was not disclosed.