Jul. 7, 2015, 9:38 AM
- Grupo Televisa (NYSE:TV) is down 6.5% out of the open as JPMorgan Chase downgrades the stock to Neutral.
- The firm had upgraded Televisa from Neutral to Overweight on May 7, with a $42 target. Shares are trading currently at $35.84.
- Recently, Citigroup had upgrades shares to Buy as well. A consensus price target of $40.50 implies more than 10% upside at the moment.
- Previously: As Univision pursues IPO, Televisa firms its partnership (Jul. 02 2015)
May 1, 2013, 2:27 PMAs expected, Mexico's Congress has passed a telecom reform bill that removes foreign investment limits and creates an independent regulator that can force companies with 50%+ market share - America Movil (AMX -3.4%) and Grupo Televisa (TV -0.1%) to sell assets. However, automatic asset sales, once a concern, aren't part of the package, and a Congressional revision gives the companies a chance to appeal fines and asset sale rulings. AMX is giving back yesterday's gains. | May 1, 2013, 2:27 PM
Apr. 15, 2013, 11:32 AM
America Movil (AMX -2.7%) slides after Bernstein launches coverage with an Underperform and $16.50 PT. Over the weekend, Bloomberg observed Carlos Slim might try to make lemonade out of lemons by using Mexico's proposed telecom reform legislation (a negative for AMX's mobile ops) to expand into pay-TV services, and thereby take on local giant Grupo Televisa (TV).| Apr. 15, 2013, 11:32 AM
Mar. 22, 2013, 1:05 PM
After 14 hours of debate, Mexico's lower house has approved an amended version of a telecom reform bill that seeks to create a new independent regulator and remove foreign investment limits on wireline carriers. Some details still need to be worked out, such as whether reciprocal foreign investment arrangements should be required of the home countries of investing firms. America Movil (AMX +2.8%) is rallying for the second day in a row. Grupo Televisa (TV +0.6%) is up slightly.| Mar. 22, 2013, 1:05 PM
Mar. 13, 2013, 1:08 PMA downgrade to Neutral from HSBC sends America Movil (AMX -5.2%) shares tumbling. Credit Suisse issues a similar downgrade yesterday, but shares fell only modestly. Both ratings cuts follow the arrival of a bill that would create an independent regulator that would have the power to impose penalties on and perhaps even break up AMX's Mexican telecom ops. Grupo Televisa (TV -2%), also targeted by the bill, is down as well. | Mar. 13, 2013, 1:08 PM | 2 Comments
Mar. 11, 2013, 1:52 PM
The Mexican government has Carlos Slim's American Movil (AMX -1.9%) and top TV broadcaster Grupo Televisa (TV -0.6%) in its sights: a bill presented today would "would create an independent regulator that could designate companies as dominant, impose stiffer penalties on them and even break them up," according to a draft seen by Reuters. The bill, which could have trouble making it through a divided Congress, also mandates rivals be provided with cheaper access to Slim's networks (previous). Mobile carrier NII Holdings (NIHD +3.3%) is rallying.| Mar. 11, 2013, 1:52 PM | 2 Comments