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Wednesday, April 6, 2011

Mexico's Televisa to purchase stake in Iusacell-WSJ

Top Mexican broadcaster Televisa will buy a 50 percent stake in mobile operator Grupo Iusacell, the Wall Street Journal reported on Wednesday, citing a source close to the transaction. The transaction would total $1.6 billion and a fraction of this would go to debt repayment, while the rest would go to expand Iusacell's network, the newspaper reported. A spokesman for Televisa could neither confirm nor deny the report. Iusacell declined to comment past Tuesday's statement that talks were underway between the two companies.(Reporting by Robin Emmott and Ana Isabel Martinez)