ALTAN Redes has been declared bankrupt by the Seventh Judge in Civil Matters of Mexico City.
According to CommsUpdate, the declaration will enable the consortium to restructure its financial commitments and will not affect its operations. The group – which includes Axtel, Megacable and the International Finance Corporation (IFC) – operates Mexico’s Red Compartida open access 700MHz network, which delivers services to over 4.6 million subscribers via roughly 100 MVNOs.
ALTAN Redes won the contract via a government tender in November 2016. The Red Compartida network was launched in March 2018 and now covers around 77.793 million people – roughly 69.25% of Mexico’s population. The operator had aimed to reach 70% of the population by January 2021; its licence terms stipulate that it must reach 85% population coverage by January 2022.