Axtel Climbs on Speculation of Alestra Deal, IPC InclusionCrayton Harrison
Axtel SAB, Mexico’s second-largest landline phone company, climbed the most in more than five months on speculation that it’s near a sale or will soon be included in the benchmark IPC index.
Axtel, based in San Pedro Garza Garcia, Mexico, climbed 9.3 percent to 4.60 pesos at the close in Mexico City, the biggest one-day increase since Nov. 22.
Brokers in Mexico are speculating that Alfa SA’s phone unit, Alestra, could take over Axtel, Andres Coello, an analyst at Scotiabank Inverlat SA, said today in a research note. The stock is also rising because of the idea that Axtel could rejoin the IPC, which won’t be recalibrated until September, he said.
“We spoke yesterday to Alfa,” Coello said. “They told us that they haven’t talked to Axtel for years, and that management has nothing to add.”
An Axtel press official didn’t immediately return phone and e-mail messages today. Enrique Flores, a spokesman for San Pedro Garza Garcia-based Alfa, declined to comment.