Grupo Televisa has acquired telecoms firm Telecable for MXN 3 billion including Telecable’s debts for MXN 7.2 billion.

Telecable offers cable TV, telephony and internet services and has a presence in Jalisco, Aguscalientes, Guanajuato, Queretaro, Tamaulipas and Colima. Telecable has nearly 650,000 revenue generating units (RGUs). The company is expected to generate revenues of MXN 2 billion and EBITDA of MXN 1 billion this year.

The acquisition was financed with the proceeds from selling mobile operator Iusacell to AT&T. Televisa announced the deal while saying the Iusacell transaction had closed