Televisa chief says still striving for Nextel deal

TIJUANA, Mexico Oct 14 (Reuters) - Mexican broadcast giant Televisa will keep striving to secure a joint venture with Nextel despite legal challenges, an executive said on Friday.

Televisa (TLVACPO.MX) (TV.N), Mexico's leading broadcaster and the world's top Spanish-language media content provider, has been trying to finalize a deal with NII Holdings' Nextel (NIHD.O), but rivals have thrown up legal challenges.

Emilio Azcarraga Jean, Chairman, President and Chief Executive Officer of Grupo Televisa, said that his company will continue to work on a final deal.

"Our relationship with Nextel is very good," he told Reuters at a business forum held in this border city. "We have this partnership and we need to resolve some outstanding issues."

The executive could not predict whether the planned venture would overcome all challenges and ultimately be a success.

"There are many things to do," he told Reuters.

The two enterprises have been working for months to shake up the Mexican phone market dominated by tycoon Carlos Slim's America Movil. (AMXL.MX) (AMX.N)

Local media has reported that the companies are weary of legal challenges to the deal and might call for a pause in their planned venture. [ID:nN1497322]

Televisa agreed in February to take a 30 percent stake in Nextel Mexico for $1.44 billion along with an option to purchase an additional 7.5 percent.

The joint venture was subject to winning a government auction for wireless spectrum that ended in July.

Televisa and Nextel received the license earlier this month over the objections of rivals who complained the bid was too low. The government says the auction was fair.

A Mexican judge on Thursday granted an injunction to mobile phone operator Iusacell CEL.MX, blocking Nextel and Televisa from using the spectrum.

According to the court's docket obtained by Reuters, a meeting is scheduled for Oct. 26 where the parties should have another chance to go over the judge's decision.

Nextel said last week that "many conditions" of the joint venture were under review during talks with Televisa, raising concern among investors that the deal could collapse. (Reporting by Lizbeth Diaz; Editing by David Fox) (patrick.rucker@thomsonreuters.com; +5255-5282-7153; Reuters Messaging: patrick.rucker.reuters.com@reuters.net)