Maxcom Heard Abandoning Sale

Maxcom has taken itself off the market, according to Mexico-based bankers familiar with the situation. The Mexican telecom provider had retained Barclays to sell itself, but suffered from a lack of interested buyers, according to bankers in Mexico and New York. Maxcom released disappointing earnings results for Q3 2010, with an MXP80m loss (up from an MXP148m loss for the same period in 2009), and will likely seek to improve its numbers before attempting another sale. Maxcom says it is not working with Barclays, but declines to comment on whether it had been working with the bank previously. Udi Margulies, MD of investment banking at Barclays, declines to comment.