Televisa to take full ownership of Cablemas

4 Apr 2011

Mexican media giant Grupo Televisa has revealed that it will buy the remaining shares it does not hold in local triple-play provider Cablemas for approximately MXN4.7 billion (USD397 million), according to the Wall Street Journal. Televisa has said that it will bring its holding in the cableco to 100% by acquiring the 41.7% of stock it does not already own, following which Cablemas will be merged into Televisa, with some 25 million Televisa CPO shares then issued as a result of the transaction. Televisa also noted that the deal, coupled with a recent pre-payment of USD225 million in Cablemas senior notes, will complete the capital and debt restructuring at the cableco.

According to TeleGeography’s GlobalComms Database, at the end of 2010 Cablemas was Mexico’s second largest cable broadband provider in terms of subscribers, with a customer base of just over 360,000 high speed internet customers, while it also had some 200,000 telephony subscribers at that same date.

Mexico, Cablemas (Izzi/Wizz)