UPDATE 1-Mexico's Televisa sees OK for Iusacell deal in H2

Fri Apr 15, 2011 11:32am EDT

* Televisa offered $1.6 bln for half of Iusacell

* Broadcaster's shares have plunged on news for days

MEXICO CITY, April 15 (Reuters) - Mexico's leading broadcaster Televisa said on Friday that it expects regulators to clear its proposed offer to buy half of Iusacell mobile phone company in the second half of the year.

"We have made the filing (before antitrust regulators). We expect it to take about six months to be approved," Executive Vice President Alfonso de Angoitia told analysts during a conference call.

Since a report surfaced on April 4 that Televisa (TV.N) (TLVACPO.MX), controlled by media baron Emilio Azcarraga, was eyeing a possible tie-up with Iusacell CEL.MX, Televisa shares have plunged nearly 13 percent.

On April 7, Televisa announced it had struck a $1.6 billion deal to buy 50 percent of Iusacell, in a move to take on tycoon Carlos Slim's share of the mobile market.

Azcarraga, Iusacell's owner Ricardo Salinas and Slim are embroiled in an escalating war over control of Mexico's communications sector.

Televisa shares dropped 1.95 percent to 52.2 pesos on Friday morning while its New York-traded stock slipped 1.8 percent to $22.31. (Reporting by Cyntia Barrera Diaz; Editing by Phil Berlowitz)