Mexico disqualifies mobile network consortia, leaving one bid
- Goldman sends Dow to record high, techs lift S&P, Nasdaq
- Oil hits 16-month high in buying rush after OPEC agreement
- Consolidated Communications (CNSL) to Acquire FairPoint Communications (FRP) in $1.5B Deal
- Pre-Open Stock Movers 12/05: (FRP) (GMED) (CHK) Higher; (CERC) (HDSN) (MRVL) Lower (more...)
- Burberry rejects multiple takeover offers from Coach: Financial Times
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
MEXICO CITY (Reuters) - The Mexican government on Friday disqualified one of the consortia competing in a tender to build and run a national wholesale mobile network, leaving just one bid remaining for the long-delayed project.
An official at the Ministry of Communications and Transport said at a news conference that the group made up of Rivada Networks and Spectrum Frontier did not present the required 1 billion peso ($52 million) bid bond on time and so was disqualified.
That leaves a consortium called Altan, which includes Mexican companies Megacable and conglomerate Alfa's unit Axtel, as the sole bidder.
Depending on the bid, the network could be one of the largest infrastructure projects carried out under President Enrique Pena Nieto. The winner is scheduled to be announced on Nov. 17.
The network, which must cover at least 85 percent of the population, was part of a sweeping telecoms reform aimed at curbing the dominance of Carlos Slim's America Movil.
(Reporting by Christine Murray; editing by Grant McCool)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Brazil to unveil pension reform, including minimum retirement age
- Accused South Carolina church shooter defended by attorneys again
- Trian's Peltz started building new stake in undisclosed company: CNBC
Create E-mail Alert Related CategoriesReuters
Related EntitiesCarlos Slim
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!