Mexican broadcaster giant Grupo Televisa, S.A., has agreed to buy an equity stake in Comunicaciones Nextel de Mexico, a unit of NII Holdings Inc. Televisa will pay $1.44 billion for a 30 percent stake in Nextel Mexico, with an option to acquire an additional 7.5 percent equity interest on the third or fourth anniversary of this deal’s completion, according to a joint press release announcing the deal.

Once the deal is completed, Televisa will add wireless and broadband capabilities to its existing portfolio of paid-television programming. Televisa’s investment in Nextel Mexico will also allow it to pursue plans to acquire wireless spectrum that the Mexican government is expected to auction off later this year. The auction is part of an initiative aimed at increasing competition in a market that’s dominated by media tycoon Carols Slim’s America Movil, according to The Wall Street Journal.

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