Maxcom Telecommunications SAB de CV (NYSE: MXT) plans to file for Chapter 11 to implement a recapitalization and restructuring agreement, which would result in private equity ownership.

Mexico City-based Maxcom provides phone, Internet and cable services to residential and small-business customers across Mexico. The company has been struggling with increased competition, and was placed on Mergers & Acquisitions’ Distressed Company Watch List on May 14. 

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