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Mexico’s Televisa eyes $1bn Nextel stake
09 February 2010
Media conglomerate Televisa is to acquire a 20% stake in Nextel Mexico for $1 billion
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[Nextel]
[NII]
[Mexico]
[Televisa]
[wireless broadband]
Televisa is looking to acquire a stake in the Mexican mobile operation Nextel. The Mexican media conglomerate is seeking the approval of the country’s antitrust commission for the takeover. The country’s Federal Competition Commission has up to 30 business days to grant or rebuff the takeover plan.
The company is planning to pay $1 billion for a share of between 20% and 30% in Nextel Mexico, which is a part of the US-based NII Holdings.
NII Holdings, which functions in five Latin American countries under the Nextel brand, owns the smallest of Mexico’s four mobile operators and had 2.9 million subscribers until September 2009.
Televisa, in October 2009, had said it was looking for partners to take part in the auctions, which in turn will help add wireless broadband to its current offering of phone, Internet and pay-TV services. GTB
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