Fox Sports Mexico begins its sales process

The Telecommunications Federal Institute (IFT) Plenary approved the candidates proposed by Fox and Disney as Independent Auditor and Disincorporation Agent and, that way, allow Mexican Fox Sports channels sale. With the Agent’s designation, a six-month period is granted for the sale, extendible in an only opportunity for justified reasons. Once notified, Disney and Fox have a ten business-day period to designate both agents.

The regulator informed that the six-month period stipulated for the sale will run when Disney and Fox confirm the candidates. Fox Sports detachment in Mexico is added to Fox Sports Brazil, where the Economic Defense Administrative Council (CADE) approved Disney-Fox merger only is the sports channel is disinvested.

In the same session where this topic was discussed, the IFT unanimously decided that the operation for which Televisa Group acquired part of Axtel’s business in six Mexican cities does not require to be authorized, because it meets the criteria established by the transitory article N°9 of the Federal Telecommunications and Broadcasting Law, and ‘for not having the effect of diminishing, damaging or impeding free concurrency and economic competition in the telecommunications area’.

The companies presented a concentration request for Televisa Group to acquire all Mexico S.A. de C.V.’s (subsidiary of Axtel) FTTH capital stock, whose main assets are residential customers for fixed telephony internet and pay TV services through fiber optic, as well as the fiber optic necessary to provide these telecommunications services in several Mexican cities.