Iusacell sale edges closer; Grupo Televisa uses proceeds to acquire Cablevision Red

9 Jan 2015

Mexican cable giant Grupo Televisa has sold its 50% stake in local mobile firm Iusacell back to its joint venture partner Grupo Salinas, paving the way for US telecoms firm AT&T Inc to acquire Mexico’s third largest mobile company. AT&T, which agreed to buy 100% of Iusacell from Grupo Salinas in November 2014, received regulatory approval from Mexican telecoms regulator the Instituto Federal de Telecomunicaciones (Ifetel) last month.

Grupo Televisa has revealed that part of the proceeds of its Iusacell stake sale have been used to acquire, through a series of transactions, 100% of the equity interest of Cablevision Red and its subsidiaries. Televisa paid MXN3 billion (USD204.1 million) for Cablevision Red, in the process also assuming obligations and liabilities of MXN7.2 billion. Cablevision Red provides video, data and telephony services primarily in the states of Guanajuato, Jalisco, Aguascalientes, Queretaro, Tamaulipas, and Colima, and claims to have approximately 650,000 revenue generating units (RGUs).

TeleGeography notes that, post-Iusacell divestment Grupo major telecoms assets consist of Izzi Telecom (formerly Cablevision), Cablevision (formerly Bestel), Cablemas, TVI and Cablecom.

Mexico, AT&T, Cablevision Red (Izzi/Wizz), Grupo Televisa, Iusacell (inc. Unefon)