In February, media giant Grupo Televisa agreed to pay $1.44 billion for a 30 percent stake in wireless carrier Nextel Mexico, an NII Holdings subsidiary -- but now, the deal has come undone. Both sides have agreed to terminate the agreement, according to a joint statement released Monday. Wachtell represented Televisa in the original deal, and Jones Day worked with NII. It is unclear why the deal collapsed, but one clue may be found in a filing in which NII said the companies disagreed on the deal's regulations and risks.
October 20, 2010 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
In February, media giant Grupo Televisa SA, agreed to pay $1.44 billion for a 30 percent stake in wireless carrier Nextel Mexico, an NII Holdings subsidiary, but the deal has come undone. Both sides mutually agreed to terminate the investment agreement, according to a one-paragraph joint statement they released Monday.
Wachtell, Lipton, Rosen & Katz represented Televisa in the original deal. Lead partner Joshua Cammaker did not immediately return a request for comment.
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