Mexico's Maxcom files for bankruptcy
Wednesday, July 24, 2013
![](https://www.centralamericalink.com/storage/images/2017/02/07/201307241100090.maxcom-bankruptcy.jpg)
Mexico's Maxcom filed for Chapter 11 bankruptcy in a U.S. court, as the telecoms firm pursues a recapitalization plan that would give full control to a investor group led by private equity firm Ventura Capital.
Small phone companies in Mexico have struggled to compete with billionaire businessman Carlos Slim's America Movil , which has about 70 percent of Mexican mobile connections and about 80 percent of the country's fixed lines.
Through the court-administered bankruptcy process, Maxcom hopes to go ahead with a recapitalization that had earlier failed owing to lack of support from majority bondholders.
Source: Reuters