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UPDATE 1-Univision deal subject to debt restructure
October 5, 2010 / 3:37 PM / 7 years ago

UPDATE 1-Univision deal subject to debt restructure

* Televisa to invest $1.2 billion in U.S. broadcaster

* Mexican company asks for debt restructuring (Adds Televisa shares rising on news)

MEXICO CITY, Oct 5 (Reuters) - Mexico’s Televisa (TV.N) (TLVACPO.MX) said on Tuesday that its investment in top Spanish-language U.S. broadcaster Univision is subject to the U.S. partner restructuring at least $3.25 billion in debt.

“The condition that we established is that (Univision) restructures $3.25 billion of its debt, out of which at least $750 million should be in a long-term bond,” the Mexican broadcaster’s Executive Vice President Alfonso de Angoitia told Reuters.

Televisa announced it would invest $1.2 billion for a 5-percent stake in Univision as part of a deal that would strengthen links among two top regional broadcasters. [ID:nN04153478]

Televisa shares jumped 9.2 percent to 52.10 pesos and traded at their highest level since April. (Reporting by Cyntia Barrera Diaz and Michael O‘Boyle; Editing by Missy Ryan and Gerald E. McCormick)

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