Flō Networks Bids for Full Control of Mexican Telecom Giant Axtel
El Paso-based Flō Networks signaled a major expansion into the Mexican telecommunications market today, announcing its intent to launch public tender offers for the acquisition of 100% of Controladora Axtel and Axtel S.A.B. de C.V. The boards of both target companies have already granted preliminary approval for the move.
The proposed transaction aims to integrate the digital infrastructure assets of both firms, creating a combined entity with expanded capacity across Mexico and the Southwestern United States. Flō Networks, which operates under the corporate name Transtelco Holding, currently manages a fiber-optic network spanning over 30,000 route miles. CEO Miguel Fernandez stated that the merger is intended to bolster network resilience and broaden the company’s portfolio of digital services for business clients throughout the region.
Moving forward with the acquisition requires navigating a series of regulatory hurdles. Flō must secure formal authorization from the Comisión Nacional Bancaria y de Valores and clearance from the Comisión Nacional Antimonopolio, alongside meeting various contractual conditions. Once these requirements are satisfied, the full terms of the tender offers will be published in accordance with Mexican securities laws and Bolsa Mexicana de Valores regulations. The deal represents a significant push by Flō to consolidate its position as a primary connectivity provider for Fortune 500 companies and regional telecommunications operators.
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