The Mexican Telecable TV service owner, Grupo Hevi has engaged the services of Barclays Plc to explore the possibilities of a sale. This was confirmed by anonymous sources familiar with the possible transaction.
Amongst the interested bidders are Megacable Holdings SAB, the country's largest cable-TV company. One of the sources said that Hevi could reach ip to US$500 million when sold.
This sale would place one of the largest and last remaining independent cable firms in Mexico up for sale. Grupo Hevi is named after its founder and current CEO Hector Vielma has his base of operations from Guadalajara, Mexico. His company has over 350,000 subscribers scattered across ten Mexican states.
Megacable is also based in Guadalajara, said last February that it would be interested in the acquisition of Hevi if it were for sale. Another competitor, Grupo Televisa SAB, is based out of Mexico City, wants to add to its three other cable carriers, namely Cablemas, Cablevision and TVI should it purchase Hevi.
In a conference call last month, Televisa's EVP said, "There are attractive opportunities in the cable sector and also other assets on the telecommunications front in Mexico. We will, as we have mentioned in the past, continue to seek opportuntiies to consolidate in that sector."
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