Televisa says Megacable rejected combination proposal

In a regulatory notice, Televisa stated: "On December 12, 2022, the Board of Directors of Megacable responded to the proposal from Televisa in writing, informing the Company that it rejected the proposal, noting that the Chairman of the Board of Directors and CEO of Megacable is the only person empowered to deal with this kind of approaches. Despite this response, we believe that the market clearly understands the benefits of this transaction, taking into account the reaction of the markets today to the reports that have appeared in the press related to this proposal. We have received various questions from some Megacable shareholders, and we are excited about your interest in our proposal. We will continue looking for alternatives to dialogue with Megacable regarding this attractive opportunity. Any transaction would be subject to the authorization of the Board of Directors of Televisa and of Megacable, and a usual confirmation audit process (due diligence). The termination of the The transaction would also be subject to the approval of the respective shareholders of both companies, the regulatory authorities and other customary closing conditions. It cannot be guaranteed that such transaction will be finalized or the terms or the moment of the same." Reference Link