Mexico’s cable operator, Grupo Televisa S.A.B. will acquire a 50 percent stake in mobile operator Iusacell, the Wall Street Journal reports, citing a source close to the transaction.

The transaction amounts to USD 1.6 billion. According to the same source, part of the overall amount would go to debt repayment, while the rest would go to expand Iusacell’s network.

See the Iusacell and Televisa records in Latin Target.

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