Mexico City – September 07, 2026 -- Flō Networks has announced plans to launch public tender offers to acquire up to 100% of the outstanding shares of Controladora Axtel, S.A.B. de C.V. and up to 100% of the CPOs of Axtel, S.A.B. de C.V., in a move that would consolidate two major fiber-optic operators in Mexico.
Boards of both Axtel companies give preliminary green light to the deal
Flō, the U.S.-based digital infrastructure operator formerly known as Transtelco, said it has received preliminary approval from the Boards of Directors of both Axtel Companies to advance toward launching the offers. The company is now seeking regulatory clearances required to proceed.
Deal hinges on approval from Mexican securities and antitrust regulators
Commencement of the offers depends on authorization from the Comisión Nacional Bancaria y de Valores and clearance from the Comisión Nacional Antimonopolio, alongside other regulatory and contractual conditions. Flō said it is prepared to move quickly once these requirements are satisfied, with offering documents to be published under Mexican securities law and Bolsa Mexicana de Valores regulations.
Combined network would extend Flō's reach across 30,000-plus route miles
Flō currently operates a fiber-optic network spanning more than 30,000 route miles across the Southwestern United States and Mexico, with connectivity in fifteen countries across the Americas. CEO Miguel Fernandez said combining Flō's and Axtel's networks, capabilities and talent would create a stronger digital infrastructure platform with greater scale and capacity to serve business customers across Mexico and beyond.
Flō said the transaction would generate operational and commercial synergies while supporting continued investment in infrastructure for critical technologies. The company was founded as Transtelco in 2001 and serves Fortune 500 companies, telecommunications providers and cable operators.