A PYMNTS Company

Vote reached on Televisa-Iusacell deal, but verdict can’t be announced

 |  January 25, 2012

Mexico’s Federal Competition Commission reached a vote on whether it will allow Televisa to invest $1.6 billion in Iusacell, but declined to announce the verdict until it has legally notified the parties involved. The deadline for notification is February 7, 2012.

Televisa is the world’s largest Spanish-language broadcaster. The terms of the deal would give Televisa a 50 percent stake in Iusacell, thus providing entry into the wireless market. It also places Televisa in even more competition with America Movil, who last week claimed that Televisa seized control of Iusacell without waiting for antitrust approval. Adding to the controversy surrounding the transaction was Iusacell’s threatened lawsuit to have Eduardo Perez-Motta recused from voting, on the grounds that Perez-Motta had publicized views on the deal that should have been kept confidential.

Source: Bloomberg


Related content: An Interview with Eduardo Perez-Motta