Reuters reveals Mexico’s Televisa offers to combine pay TV unit with Megacable

Reuters exclusively reported that Mexican broadcaster Grupo Televisa is offering to merge its cable and broadband unit Izzi with smaller rival Megacable. Megacable has not yet accepted the deal, but after Reuters revealed the news Megacable shares surged 14.8% , while shares of Televisa – Mexico’s largest broadcaster – also rallied 10.75% in morning trade. The offer comes after a series of spinoffs by major Mexican companies to revive depressed stock prices.