Private fund offers to buy Mexico's Maxcom in $54 million deal
MEXICO CITY (Reuters) - A Mexican private fund has offered to buy Maxcom Telecomunicaciones for around 700 million pesos ($54 million), or 2.9 pesos per share, the telecom firm said in a statement to the stock exchange on Tuesday.
The offer by Ventura CapitialPrivado SA de CV also includes increasing Maxcom's capital by at least $22 million. The transaction is pending authorization by Mexico's banking and securities commission.
Maxcom (MXCMCPO.MX), which had struggled for years to boost profits in a market led by America Movil (AMXL.MX), ended September with 272,442 clients, mostly in the residential market.
The company, which launched operations in 1999, offers voice, Internet and cable services.
Maxcom shares ended down 0.28 percent at 3.62 pesos on Tuesday, before the Ventura announcement was made.
($1 = 12.9459 pesos)
(Reporting By Cyntia Barrera Diaz; Editing by Muralikumar Anantharaman)
NEW YORK - U.S. stocks inched higher Wednesday after two days of gains, ahead of the release of minutes from the most recent Federal Reserve meeting, as investors brushed off bleak earnings forecasts from some retailers like Lowe's and Target.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.