Mexican media giant, Grupo Televisa says that it has received approval from Mexico's antitrust commission, COFECO for its application for a possible minority investment in the Mexican operations of NII Holdings (Nextel).
At this moment, an agreement between Televisa and NII Holdings has not been signed, nor can Televisa provide assurances that a transaction will take place.
It has been previously reported that Televisa could pay around US$1 billion for a stake of between 20 and 30 percent in Nextel Mexico.
Nextel is a distant fourth in the country's mobile market, but its acquisition would offer a deployment advantage to Televisa should it bid for radio spectrum in the upcoming spectrum auction.
Figures from the Mobile World analysts shows that Telcel commands 72.5% of the Mexican market, distantly followed by Telefonica (19.5%) and Iusacell (4.5%) and iDEN operator, Nextel with 3.6%.
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