MEXICO CITY, Feb 26 (Reuters) - Mexico’s Grupo Televisa expects to maintain its level of capital investment in 2016, the company’s executive vice president said on a conference call on Friday.
“For 2016 we estimate that capex will be similar to that of 2015, both in terms of magnitude and of composition,” EVP Alfonso Angoitia said.
Televisa invested $1.6 billion in 2015, with more than $1 billion going toward its fast-growing telecommunications unit, which includes pay television, fixed-line phone and Internet.
Angoitia said the company did not have plans to re-enter the mobile market. In 2014, it sold its stake in Mexico’s No. 3 operator, Iusacell, which AT&T Inc eventually acquired.
On Thursday the company reported a sharp drop in profit due to higher costs and slumping advertising revenue as it restructures its prices. (Reporting by Christine Murray and Tomas Sarmiento; Editing by Jeffrey Benkoe)