Maxcom Telecomunicaciones SAB, a Mexico City-based carrier, filed for chapter 11 protection in the U.S., Bloomberg News reported yesterday. Maxcom listed $11.1 billion in assets and $402.3 million in debt in its court filing yesterday. Maxcom, which has struggled to compete with billionaire Carlos Slim’s America Movil SAB, said on April 25 that it was considering filing for chapter 11 after a takeover deal with Ventura Capital Privado SA collapsed when the company failed to persuade 80 percent of bondholders to accept its restructuring proposal. The company’s defaulted bonds surged to a 10-week high earlier this month after it unveiled a second restructuring proposal with Ventura Capital. The telephone company said June 18 it missed an $11 million bond payment as it held discussions with Ventura and bondholders.
