Televisa Bulks up Cable with Acquisition

Televisa Bulks up Cable with Acquisition

Mexico M&A

Reaction is mostly positive to Grupo Televisa’s agreement to buy MXP9.5bn ($740m) in debt of Cablecom, including convertible instruments that would give it control of the Mexican cable operator. The Mexican broadcaster is to buy MXP7bn in convertible debt instruments that represent 95% of the equity interest in the Tenedora Ares holdco which owns 51% of Grupo Cable TV, known as Cablecom, Televisa says. Ares also comes away with an option to buy the remaining 49% of Cablecom at a value of 9.3x Eb

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