They tell us that the proposal he made Televisa Groupby Emilio Azcárraga Jean, to Megacable Holdingsby Enrique Yamuni, to combine his pay TV, telephony and internet access businesses, was going to create a giant in terms of telecommunications.
According to the information that both companies sent to the Mexican Stock Exchange, everything was left in a proposal, since Megacable’s board of directors rejected the proposal yesterday.
However, they tell us that, at least on paper, the unsolicited proposal received by Megacable on November 14 threw interesting numbers.
Initially, the merger of Televisa Cable into Megacable would be carried out through a share exchange with a premium of approximately 19% for Megacable shareholders, in which Megacable and Televisa shareholders would own approximately 45% and 55%. of the combined company, respectively.
The proposal also included the possibility that, upon closing of the transaction, Megacable shareholders would receive a special cash dividend of approximately 14.8 billion pesos.
In addition, together they would have 11 million subscribers and potential synergies of approximately 9 billion pesos per year, as a result of savings in costs and expenses and optimization of capital investments (capex).
