WaveCatcher (IFC-38474)

  • Mexico
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Oct 18, 2016
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Communications
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 25.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 700.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jun 22, 2017

Disclosed by Bank Nov 22, 2016

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.
Altán SAPI de CV (“Altán” or the “company”) submitted the winning bid in an international public tender process launched by Telecomunicaciones de México, an agency of the Government of Mexico, for exclusive rights to exploit 2 x 45 MHz of unencumbered contiguous spectrum in the 700 MHz frequency band for the creation of a nationwide 4G wholesaler open access network for a period of 20 years (the “project”), extendable for another 20 years. IFC’s investment and mobilized investment will help to fund the design, construction, operation and maintenance of the project. Altán will gain the right to use existing radio access network sites, which will generally consist of telecommunications antennas that will be controlled by the company, either installed on a different company’s towers or other buildings, or on towers controlled by the company. Altán expects that it will use 14,300 existing sites, and will develop about 2,400 new sites. As a condition of the tender award, Altán has committed to making its network available to at least 92.2% of the population, including areas where services are currently not available, within the first seven years following the signing of the Public-Private-Partnership agreement.
Investment Description
Here you can find a list of individual development financial institutions that finance the project.
IFC proposes to make an equity investment in Altán of up to $25 million on IFC’s own account, and at the same time, an AMC-managed fund, China Mexico Fund, would make a mobilized equity investment of up to $175 million, for a total investment amount of up to $200 million. The Project investment is expected to exceed US$7 billion over the life of the project. The Company consists of Grupo Multitel (as technical partner); Morgan Stanley Infrastructure (Marapendi Holding B.V., 33.37%); Miguel S. Escobedo (through Hansam, S.A.de C.V., 9.35%); Eugenio Galdon (Chairman of Multitel through Isla Guadalupe Investments, 3.34%); FFLATAM-15-2 (the trust issuer of fiduciary certificates No. F /2292, held in Banco lnvex, SA, 6.54%); Caisse de dépôt et placement du Québec in partnership with CKD­IM, an investment vehicle of Mexican institutional investors including Afores, 12.68%); Axtel (4.01%); Megacable (4.01%); IFC (3.34%); and the China-Mexico Fund (“CMF”, 23.36%), managed by IFC’s Asset Management Company. The shareholders have committed $749 million as initial capital.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.
ACCOUNTABILITY MECHANISM OF IFC The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/

How it works

How it works