Wireless operator Iusacell has accepted the Mexican competition regulator’s conditions for its tie-up with Televisa, Reuters reported with reference to an unnamed source. Iusacell, however, has denied the report and insists it is still analysing the…
Wireless operator Iusacell has accepted the Mexican competition regulator’s conditions for its tie-up with Televisa, Reuters reported with reference to an unnamed source. Iusacell, however, has denied the report and insists it is still analysing the conditions.
The unnamed source at antitrust regulator Cofeco reportedly told Reuters that both Iusacell and Televisa have written to the regulator to accept the conditions imposed by the authority for clearance of the US$1.6bn transaction. The deal will see broadcaster Televisa acquire a 50% stake in mobile operator Iusacell.
Iusacell has denied this is the case.
Cofeco originally blocked Televisa from buying into Iusacell on competition grounds in March. The other half of Iusacell is owned by Grupo Salinas that operates Televisa’s main broadcast rival, TV Azteca.
Televisa’s appeal to the original decision was granted on 14 June, but came with conditions attached regarding advertising, programming, corporate governance and a future auction of TV spectrum.
A spokesperson for Iusacell’s parent Grupo Salinas described the terms of the appeal last Friday as “practically a message to stop the investment”.
