Axtel, S.A.B. de C.V. (BMV: AXTELCPO; OTC: AXTLY) ("AXTEL" or "the Company"), a Mexican fixed-line integrated telecommunications company, today announced that Mexico's Supreme Court voted 8-2 against the proposal regarding the constitutional trial case between the Company and Radiomovil Dipsa S.A. de C.V. ("Telcel") for the 2005-2007 period. The proposal that was rejected presented arguments against the appeal filed by AXTEL. A new proposal of resolution will be prepared by another Supreme Court Minister and will be discussed and voted again by the Supreme Court at a later date.
During the discussion, the Ministers commented that the cost model and the promotion of competition, among others, should be the basis for the determination of interconnection rates established by the Federal Telecommunications Commission ("Cofetel").
There is no specific deadline or timeframe as to when the new proposal of resolution will be scheduled, discussed and voted again by the Supreme Court.
AXTEL is a Mexican telecommunications company that provides local and long distance telephony, broadband Internet, data and built-to-suit communications solutions in 39 cities and long distance telephone services to business and residential customers in close to 200 cities. AXTEL provides telecommunications services using a suite of technologies including fiber optic, FWA, WiMAX, copper, point to multipoint radios and traditional point to point microwave access, among others.
AXTEL's shares, represented by Ordinary Participation Certificates or CPOs, trade on the Mexican Stock Exchange under the symbol 'AXTELCPO', and are part of the IPC Index. AXTEL's American Depositary Shares are eligible for trading on The PORTAL Market, a subsidiary of the NASDAQ Stock Market, Inc.
Visit AXTEL's Investor Relations Center at www.axtel.com.mx.
This document contains certain forward-looking statements regarding the future events or the future financial performance of AXTEL that are made pursuant to the safe harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of 1995. These statements reflect management's current views with respect to future events or financial performance, and are based on management's current assumptions and information currently available and are not guarantees of the Company's future performance. The timing of certain events and actual results could differ materially from those projected or contemplated by the forward-looking statements due to a number of factors including, but not limited to those inherent to operating in a highly regulated industry, strong competition, commercial and financial execution, economic conditions, among others.
Axtel, S.A.B. de C.V.
Adrian de los Santos, 52(81) 8114-1226