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Televisa enters the wireless communications market
Thursday, 18 February 2010, 19:16 IST
Bangalore: Grupo Televisa a Mexican multimedia firm in the Spanish-speaking world, has entered into the lucrative wireless communications market in Mexico, as reported in Zacks Analyst Blog. The company has signed an agreement with NII Holdings to acquire 30 percent stake of the latter's wireless arm in Mexico, Nextel de Mexico. Antitrust regulators of Mexico already cleared the application of Televisa to partially acquire Nextel de Mexico's operations.
According to the agreement, Televisa will acquire 30 percent equity stake of Nextel de Mexico for a total consideration of $1.44 billion in cash. Initial investment will be $1.14 billion and the remaining will be made in here equal annual installments. Televisa can acquire additional 7.5 percent equity interest in Nextel de Mexico either the third or fourth year after the initial investment.
Televisa hopes to create an innovative converged communication platform by adding Nextel de Mexico's wireless and broadband services to its existing portfolio of pay TV services that offers market leading content and multiple distribution channels. This new joint venture will offer quadruple play converged services consisting of Wireless, TV, broadband data, and fixed line voice.
