Maxcom Drops as Takeover Collapse Raises Bankruptcy Specter
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Maxcom Telecomunicaciones SAB’s bonds and shares fell as the Mexican phone company said it may seek bankruptcy protection after the failure of a takeover deal with Ventura Capital Privado SA.
The shares sank 16 percent to 4 pesos at the close in Mexico City, the biggest one-day decline since October 2008. Maxcom’s dollar bonds due in 2014 fell 1.3 cents to 68 cents on the dollar, according to data compiled by Bloomberg. The yield rose 1.5 percentage points to 39.38 percent.