Axtel Comments on Mexican Supreme Court Decision Regarding Interconnection Rates
SAN PEDRO GARZA GARCIA, Mexico--(BUSINESS WIRE)-- Axtel, S.A.B. de C.V. (BMV: AXTELCPO; OTC: AXTLY) ("AXTEL" or "the Company"), a Mexican telecommunications company, today announced the Company's position regarding the Mexican Supreme Court of Justice ("SCJN") decision with respect to the interconnection rates' constitutional cases between AXTEL and Radiomovil Dipsa S.A. de C.V. ("Telcel"), for the 2005-2007 period, and its subsidiary Avantel, S. de R.L. de C.V. ("Avantel") and Telcel for the 2005-2010 period.
As discussions at the SCJN concluded last week, the Company commented that the SCJN resolutions do not represent any financial impact to AXTEL, as the Company already paid the high "calling-party pays" termination rates established by the Federal Telecommunications Commission ("Cofetel") during the 2005-2007 period.
The Company went on to say that as a result of the SCJN decisions, the interconnection rates for AXTEL and Telcel for the 2008-2010 period must be determined by Cofetel based on applicable legislation. The Company will issue additional comments once these rates are resolved by Cofetel.
AXTEL is a Mexican telecommunications company with significant growth in the broadband segment, and one of the leading companies in information and communication technologies solutions in the corporate, financial and government sectors. The Company serves all market segments - corporate, financial, government, wholesale and residential with the most robust offering of integrated communications services in Mexico. Its world-class network consists of different access technologies like fiber optic, fixed wireless access, point to point and point to multipoint links, in order to offer solutions tailored to the needs of its customers.
AXTEL's shares, represented by Ordinary Participation Certificates or CPOs, trade on the Mexican Stock Exchange under the symbol 'AXTELCPO' since 2005.
This release contains certain forward-looking statements regarding the future events or the future financial performance of AXTEL that are made pursuant to the safe harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of 1995. These statements reflect management's current views with respect to future events or financial performance, and are based on management's current assumptions and information currently available and are not guarantees of the Company's future performance. The timing of certain events and actual results could differ materially from those projected or contemplated by the forward-looking statements due to a number of factors including, but not limited to those inherent to operating in a highly regulated industry, strong competition, commercial and financial execution, economic conditions, among others.
Axtel, S.A.B. de C.V.
Adrian de los Santos, +52(81) 8114-1128
KEYWORDS: Mexico Central America
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