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Axtel - 1 Eduardo Escalante - 1 Escalante - 1 Valentine Hilaire - 1 David Alire Garcia - 1 Leslie Adler - 1
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MEXICO Axtel Escalante
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MEXICO CITY - 1 Alfa - 1 Sigma - 1 Thomson - 1

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☆ Analysis: Mexican companies could resort to more spinoffs to enhance market value
  + stars: | 2022-11-22 | by ( Valentine Hilaire | ) www.reuters.com   time to read: +4 min
Mexican telecommunications giant America Movil (AMXL.MX) kicked off the trend late last year when its shareholders approved the spinoff of its cell tower business. Some analysts said both Alfa and Televisa may consider further spinoffs as they look to boost their depressed valuations. Other companies, like Coke bottler and retailer Femsa (FEMSAUBD.MX), whose shares are down 3.3% year-to-date, after gaining 6% in 2021, may follow suit. Alfa lost 2.69% the day after its shareholders approved the Axtel spinoff, while Televisa's shares advanced 0.86% the day after it revealed plans for a similar move. Televisa, meanwhile, could follow its sports spinoff with either its editorial or magazine businesses, two analysts said.
☆ Alfa will not give financial backing to Axtel in spin-off -CFO
  + stars: | 2022-07-21 | by ( ) www.reuters.com   time to read: +1 min
MEXICO CITY, July 21 (Reuters) - Mexican conglomerate Alfa (ALFAA.MX) will not provide any financial guarantees to its telecommunications unit Axtel during the subsidiary's spin-off process, Alfa's top financial officer said on Thursday. Axtel is expected to reach $35 million cash flow this year, sufficient to carry out its operations, Alfa Chief Financial Officer Eduardo Escalante said during a call with analysts to discuss second-quarter results. The new firm will be listed on the Mexican stock exchange as Controladora Axtel and could start trading in December, according to Escalante. Lower government sales and delays associated with the global semiconductor shortage were among the factors cited by Escalante to explain Axtel's second-quarter net loss. The telecommunications firm reported a 171 million peso net loss for the three-month period, while Alfa subsidiaries Sigma and Alpek both posted positive results.
Persons: Axtel, Eduardo Escalante, Escalante, Valentine Hilaire, David Alire Garcia, Leslie Adler Organizations: MEXICO CITY, Alfa, Sigma, Thomson Locations: MEXICO, Axtel, Escalante
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