Televisa abandons investment in Nextel Mexico

Monday 18 October 2010 | 14:45 CET | News
Mexican media group Televisa has abandoned plans to invest in Nextel Mexico. The mobile operator joined forces with Televisa to bid for a 30 MHz nationwide block of frequencies which they planned to use for a 3G network costing more than MXN 19 billion investment over five years. Televisa pledged to invest USD 1.44 billion for a 30 percent stake in Nextel, plus an option to purchase an additional 7.5 percent. The companies did not say why they ended the partnership. However the award of their licence has faced legal opposition, with rival mobile operator Iusacell filing numerous court

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Categories: Mobile & Wireless
Companies: Iusacell / Sprint Nextel
Countries: Mexico
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