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Megacable to buy Mexican cable system
16 June 2010
Megacable is to take over another Mexican cable operator, Grupo Omnicable, and has joined a bid to buy optical fibre on the national electricity grid
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Grupo Televisa
Mexican cable company Megacable Holdings will acquire Grupo Omnicable, which has operations in 15 towns in Sonora state and three in Baja California. The acquisition will give Megacable 62,000 video subscribers and 3,000 internet customers in cities near the US border such as Nogales and Agua Prieta.
Megacable has not disclosed how much it will pay for Omnicable.
The company has also joined Mexico’s Grupo Televisa and a unit of Spain’s Telefónica in a consortium, which submitted a bid to lease nearly 20,000 kilometres of unused fibre optic cable from state-run power utility Comision Federal de Electricidad.
The consortium plans to invest more than $100 million in setting up the fibre optic network, which will help the three companies compete with the country’s biggest fixed-line phone operator, Telefonos de Mexico. GTB