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Mexican multimedia conglomerate Televisa’s attempt to acquire a 50 percent stake in mobile operator Iusacell has reportedly been rejected by the Mexican regulatory authority. The deal has been under review for nine months and estimated to be worth US$ 1.6 billion.
According to reports, the decline by the regulatory authority CFC, could have negative consequences for both companies. Sources claim that this move was important for Televisa as it provided the media company an entry into the wireless market. Further, the money would provide Iusacell with the much required financial support to maintain its position in the industry as well as increase its business.
As per sources, the companies can appeal to the agency to review its decision.

