Televisa Eyes Satmex

Mexican broadcaster Televisa says it is evaluating an acquisition of local satellite operator Satélites Mexicanos (Satmex). The company successfully restructured last year to position itself as a target in the consolidating satellite communications sector. It appointed Morgan Stanley to advise on the sale to a strategic buyer. The restructuring, which has been praised for its fair treatment of foreign creditors, left 78% of the company’s equity in the hands of the debt holders. The remaining 22% is held by the Mexican government (20%) and jointly by local telco Principa and US operator Loral (2%).