The referential S&P/BMV IPC stock index rose 0.97% to 50,956.92 points, after a holiday that kept local financial markets closed on Monday.
According to Reuters, Grupo Televisa is offering to merge its cable and broadband unit Izzi with smaller rival Megacable, which has not yet accepted the deal, a source with knowledge of the matter told Reuters.
The stock-for-stock deal between the companies would result in Megacable shareholders owning about 45% of the merged company and Televisa about 55%, the Mexican media giant’s offer letter reviewed by Reuters said.
Televisa’s letter details that the combination would create “one of Mexico’s leading cable operators, better positioned to compete than either one alone.” It was unclear if the deal would face antitrust scrutiny.
With information from Reuters.