Grupo Televisa SA Chief Executive Officer Emilio Azcarraga said the world’s biggest Spanish- language broadcaster is making its $1.6 billion bet on wireless to expand faster than it can in its traditional media business.
Grupo Televisa SA, the largest Spanish-language broadcaster, is interested in entering the Mexican wireless market, Chief Executive Officer Emilio Azcarraga said in comments to reporters in Mexico City today.
An escalating confrontation between Carlos Slim and two fellow billionaires is driving prices lower for phone, Internet and TV services in Mexico, a boon for consumers that could boost the nation’s economy.
Mexican lawmakers announced legislation yesterday that threatens to rein in the country’s telecommunications monopolies, raising the possibility of a Ma Bell-style breakup for Carlos Slim’s dominant America Movil SAB.
Maxcom Telecomunicaciones SAB’s borrowing costs are rising at twice the pace of similarly rated global peers on speculation the Mexican phone company may default as slowing economic growth deepens losses.
Grupo Televisa SA Chairman and Chief Executive Officer Emilio Azcarraga said investors should give his management team a “vote of confidence” as it spends billions of dollars to reshape the company into a media and communications empire in Mexico and the U.S.