TeleGeography | April 4, 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.
…..
