But recently, the company chaired by Enrique Yamuni has changed its mind. Megacable decided to maintain its capital investment in Altán Redes, but with a smaller amount. According to the annual report of the Guadalajara company, in 2020 it injected 285% more into the Red Compartida compared to the previous year, while in 2021 the growth in investments rose 69% compared to the same period. By 2022, when Altán managed to get out of bankruptcy, the capital injection stalled in an increase of 10%.
In addition to maintaining its investments, Megacable also increased its equity stake in the Red Compartida project company, from 3.9% to 4.2%. This index still does not provide him with a vote or influence in the administration.
The company’s decision was made on June 1, 2022 at an Extraordinary General Shareholders’ Meeting of Altán as part of a corporate restructuringat a time when the company in charge of Red Compartida would receive a capital injection of 388.1 million dollars financed by Mexican development banks, suppliers and customers.
Megacable has always highlighted the relevance of the Altán Redes Shared Network project to reduce the connectivity gap that still persists in the country and that the pandemic exposed. For this reason, the company has considered it a success that the federal government, through the National Development Bank, has rescued the company which is now chaired by Carlos Lerma.
Expansion requested information from Megacable about the decision to maintain its investment and the increase in participation in Altán Redes, but until the publication of this text the company did not issue comments.
In the first quarter of this year, Megacable closed with 376,854 lines in its OMV, which operates in the Altán infrastructure, which meant that it added 20,000 new lines during the period, a drop of 13%.
Megacable has calculated that Altán Redes owes it around 190 million pesos, but the figure could rise due to interest.