Televisa’s AT&T Mexico deal boosts its challenge to America Movil

MEXICO CITY: Shares in Televisa rose on Wednesday after the Mexican broadcaster said it would buy AT&T’s Mexican unit, in a move welcomed by investors that will set up a showdown with telecoms giant America Movil.

The acquisition, if completed, would significantly expand Televisa’s telecom footprint, with Scotiabank analysts estimating its share of Mexico’s fixed and wireless subscribers would more than double to 19% from 8%.