Alfa Agrees $51 Million For Alestra Stake

Mexican industrial conglomerate Alfa has agreed to pay Spain’s BBVA-Bancomer $51 million for its stake in telephone operator Alestra, a subsidiary of US company AT&T in Mexico. BBVA-Bancomer is to sell its share in Alestra which it holds via the company Onexa. Alfa will increase its stake in Onexa from 25.6% up to 51% to become, in turn, Alestra’s biggest shareholder.