In a note, Bloomberg noted that shares sank after it was reported that SoftBank Group is considering selling its stake in US broadcaster TelevisaUnivision, where Televisa is the largest shareholder.
In 2021 Softbank led a $1 billion investment in Univisión together with ForgeLight, Google and The Raine Group, which financed the deal through which Univisión acquired Televisa’s content business and created Televisa-Univisión.
Currently, Televisa is the main shareholder of TelevisaUnivisión with 45%, followed by Forgelight with approximately 22% and Searchlight with 18%, and the rest divided between Google, Liberty Global, The Raine Group and Softbank.
“We believe that it is a widespread opinion that, given the current circumstances, Softbank will seek to sell assets on which it can obtain a reasonable valuation, and one of those assets could be TelevisaUnivision. If Softbank finally decides to sell, we believe that it is not necessarily a reflection of a negative evaluation of the company,” Gerardo Cevallos, brokerage analyst at Vector, said in a report.