Grupo Televisa Paves Way for AT&T

On Friday, Mexican broadcaster Grupo Televisa sold its 50% stake in the company Iusacell back to its joint-venture partner Grupo Salinas, Reuters reported. This sale paves the way for AT&T to acquire Mexico’s #3 phone company. In November, AT&T said it would buy all of Iusacell from Grupo Salinas and received regulatory approval on the purchase last month. Televisa used some of the proceeds from the $717 million stake sale to buy Mexican cable company Cablevision Red for about 3 billion Mexican pesos ($204.66 million), according to the statement it sent to Mexico’s stock exchange. (Reuters)