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Televisa, NII Holdings Cancel Investment Agreement

MEXICO CITY -(Dow Jones)- Mexican media conglomerate Grupo Televisa (TV, TLEVISA.MX) and NII Holdings Inc. (NIHD) have agreed to terminate an accord under which Televisa planned to take a 30% stake in NII Holdings' Mexican unit, Nextel Mexico, for $1.44 billion, The decision not to go ahead with the investment comes as the 30 megahertz of wireless spectrum won by Nextel Mexico in a government auction in July faces a series of legal challenges from wireless concern Grupo Iusacell (CEL.MX) questioning the legality of the auction. In a joint press release, Televisa and NII Holdings said they have agreed to terminate the investment pact, without giving further details. Grupo iusacell has filed more than 70 lawsuits against the auction in which Nextel Mexico won a 30 megahertz nationwide block of spectrum with the minimum bid because spectrum caps set by antitrust regulators kept other existing operators from bidding on the block. Most have been defeated, although last week Iusacell obtained a court ruling keeping Nextel from using the concession. That ruling can be appealed. -By Anthony Harrup, Dow Jones Newswires, (5255) 5890 5176, anthony.harrup@dowjones.com Order free Annual Report for NII Holdings, Inc. Visit http://djnewswires.ar.wilink.com/?link=NIHD or call 1-888-301-0513

Stock News for Telvisa (TV)
DateTimeHeadline
04/16/201517:30:49Report of Foreign Issuer (6-k)
03/17/201505:00:00Grupo Televisa: A Good Time To Look South For Opportunity
03/12/201522:16:28Televisa may see significant gain on Univision's IPO
03/12/201521:14:38Grupo Televisa Earnings Analysis
03/03/201513:32:42Report of Foreign Issuer (6-k)
02/27/201514:53:37Report of Foreign Issuer (6-k)
01/29/201514:22:08Amended Statement of Ownership (sc 13g/a)
01/29/201513:15:30Amended Statement of Ownership (sc 13g/a)
01/09/201511:46:42Report of Foreign Issuer (6-k)
01/08/201523:51:39Mexico's Televisa Sells Mobile Stake, Buys Cable Company
12/29/201410:19:46Report of Foreign Issuer (6-k)
10/28/201412:02:28Report of Foreign Issuer (6-k)
10/24/201415:30:44Report of Foreign Issuer (6-k)
10/06/201413:28:20Report of Foreign Issuer (6-k)
09/19/201417:11:27Report of Foreign Issuer (6-k)
09/11/201418:03:48ADR Shares End Lower; Eni, Grupo Televisa Shares Trade Actively
09/11/201412:54:44Report of Foreign Issuer (6-k)
09/10/201421:10:23Ricardo Salinas to Buy Televisa's Stake in Iusacell
08/18/201413:09:54Report of Foreign Issuer (6-k)
07/10/201413:57:27Report of Foreign Issuer (6-k)

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