Mexico’s current telecommunications sector could enjoy a dramatic change if a proposed alteration to foreign inward investment is permitted.
A member of Mexico’s congress, Purification Carpinteyro, told local press that fresh investment was needed to redress the lack of infrastructure development. “There is no point in keeping that restriction; the idea is to be able to have 100 per cent of foreign investment,” he told the El Universal newspaper.
The comment was enough to push the share prices of local players Axtel and Maxcom up by around 9 per cent. Both companies have been named in the past as being acquisition targets by the likes of Vivendi and Telefonica.