In the year through April 15, a total of 441 M&A deals
have taken place in LatAm, up from 415 during the same period
in 2010, according to Dealogic. However, the value of deals as
of April 15 pales in comparison to those of the same period in
2010. Total deal value amounted to $40.9 billion, about half of
the $81.3 billion registered in the same period of 2010.
Mexicos Grupo Televisa has been busy, announcing two
separate acquisitions in April alone. It announced the
acquisition of 50% of Iusacell for about $1.60 billion. Michel
Morin, telecom equity analyst at Barclays, estimates a 21x
EV/Ebitda multiple based on Iusacells 2009 Ebitda. The
deal achieves Televisas long-stated desire to get into
the mobile telecom space.
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