Televisa has won an appeal with Mexico antitrust regulator Cofeco to acquire a 50% stake in Mexican wireless operator Iusacell.
Cofeco, which initially blocked the deal in January on competition grounds, made its final decision on the US$1.6bn deal…
Televisa has won an appeal with Mexico antitrust regulator Cofeco to acquire a 50% stake in Mexican wireless operator Iusacell.
Cofeco, which initially blocked the deal in January on competition grounds, made its final decision on the US$1.6bn deal on 6 June, but the results were published today only.
The acquisition was initially prohibited as Cofeco worried the deal could negatively affect competition in the TV market. Iusacell’s parent Grupo Salinas controls TV Azteca, the broadcaster that dominates Mexico’s TV market along with Televisa.
Televisa, Iusacell and Grupo Salinas will have to comply to certain conditions determined by Cofeco.
If the stake is acquired, Iusacell would have not one but two powerful backers, and may be able to mount a challenge to Carlos Slim’s America Movil.
