Televisa expects AT&T Mexico deal to boost position
Televisa says its purchase of AT&T Mexico will strengthen its market standing. The two billion dollar deal will raise net debt and create a large combined telecom venture.
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GRUPO TELEVISA SA-SPON ADR agreed to acquire AT&T INC's Mexican unit for $2 billion in a 50/50 joint venture, lifting net debt to EBITDA to 1.9 times. The deal in Mexico creates a combined telecom operator serving 24 million wireless subscribers. Annual revenue is projected to reach $8 billion, capturing 23% of the domestic market.
