Televisa plans $2 billion AT&T Mexico acquisition with Fintech
Scotiabank estimates the purchase would lift Televisa’s share of Mexico’s fixed and wireless subscribers to 19% from 8%.
Jio seeks up to $3.2 billion in potential record Indian IPO
The offering opens October 21, with Jio planning to direct up to ₹275 billion toward repayment of its telecom subsidiary’s debt.
Jio Platforms is seeking as much as $3.2 billion through an initial public offering that could become India’s largest. Reliance Industries, controlled by billionaire Mukesh Ambani, disclosed pricing details for its digital arm in a stock exchange filing.
The company plans to offer up to 270 million new shares at ₹1,065 to ₹1,119 each. Subscriptions are scheduled for October 21 through October 23, while anchor investors can bid on October 19. Pricing at the top of the range would imply a valuation of about ₹10.3 trillion, based on the expected post-offering share count.
According to its prospectus, Jio intends to allocate up to ₹275 billion from the proceeds to debt repayment at Reliance Jio Infocomm, its telecom subsidiary. The balance would fund general corporate purposes.
Eligible Reliance Industries shareholders have an allocation worth up to ₹25 billion, while ₹5 billion in shares has been reserved for employees. Employees will be offered a ₹54 discount on each share.
Jio reported revenue of ₹391.7 billion for the quarter ended June, an increase of nearly 12% from a year earlier, according to the prospectus. Net profit increased 9% to ₹77.6 billion.
The company had more than 524 million subscribers as of March 31 and is India’s largest telecom operator. Its businesses also include broadband and cloud services. Global investors put more than $20 billion into Jio in 2020, when Meta invested $5.7 billion and Google committed $4.5 billion.