Nextel Mexico and Televisa have agreed to delay the closing date of their mobile licence for five days in order to discuss conditions, Nextel said in a statement.
The Nextel/Televisa consortium was eventually awarded the licence for 30MHz of spectrum in…
Nextel Mexico and Televisa have agreed to delay the closing date of their mobile licence for five days in order to discuss conditions, Nextel said in a statement.
The Nextel/Televisa consortium was eventually awarded the licence for 30MHz of spectrum in the 1.7GHz band by the Mexican Transport and Communications ministry on October 1, despite attempts to block the award by competitors, primarily Mexico’s third largest mobile phone operator, Iusacell, which won several injunctions to delay the award.
Iusacell complained that the price that sole bidder Nextel-Televisa consortium paid for the spectrum was well below the market rate, and that it wanted to bid as well but was barred by the country’s regulator, Cofetel.
Nextel and Televisa are currently engaged in discussions about which closing conditions of the February 15 investment and securities subscription agreement have been or can be met.
Under the agreement, Televisa committed to buy 30% of Nextel Mexico once the licence was granted, and Nextel said it would invest Ps19bn (US$1.52bn) in a new 3G network.
Neither Nextel or Televisa responded to a request for comment by the time of going to press.
