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.
America Movil SAB, the phone giant controlled by billionaire Carlos Slim, tumbled on concerns that profits would suffer in its home market under a proposal sent to Mexico’s Congress by President Enrique Pena Nieto.
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.
Efforts by Citigroup Inc. senior executives to tighten controls in Mexico were rebuffed by managers there for at least five years before the U.S. bank found the local unit had suffered a $400 million loan fraud last month, four people with direct knowledge of the matter said.