Mexican mobile operator Iusacell and TV giant Televisa have called on the Mexican competition authority to reconsider its decision to block the proposed US$1.6bn deal between the companies.
A spokesman for the Federal Competition Commission (CFC) said…
Mexican mobile operator Iusacell and TV giant Televisa have called on the Mexican competition authority to reconsider its decision to block the proposed US$1.6bn deal between the companies.
A spokesman for the Federal Competition Commission (CFC) said that the companies had submitted separate requests for a reconsideration of the decision.
He said that the regulator has 60 working days to respond.
In April 2011, Televisa announced plans to acquire a 50% stake in Iusacell for US$1.6bn through a purchase of both equity and debt convertible into equity.
Iusacell is currently owned by conglomerate Grupo Salinas, which also controls the TV Azteca broadcaster, one of Televisa’s competitors in the TV space.
The CFC blocked the deal in January, arguing that it posed “grave risks” for competition in the TV market.
But the regulator also said that it could potentially approve the acquisition if the companies made commitments to resolve competition concerns.
