Televisa climbs following deal to purchase AT&T's Mexican unit
TV•Grupo Televisa shares rose 6.8% after it announced a $2 billion cash deal to buy AT&T's Mexican unit. The gains added 1.7 billion pesos ($91.69 million) to Televisa's market capitalization.
1. Shares rise on deal
Grupo Televisa shares rose 6.8% on Wednesday after the company announced it would buy AT&T's Mexican unit for $2 billion in cash, after rising as much as 7.4%. The gains added 1.7 billion pesos ($91.69 million) to its market capitalization.
2. Analysts see synergies
Analysts at GBM said they find the transaction's valuation attractive, saying it "could generate significant synergies." The purchase will be made together with Fintech Holdings, a private investment firm and holding company owned by Mexican billionaire David Martinez.
