February 22, 2019 / 3:44 PM / a month ago

Televisa CEO says spin-offs would not benefit shareholders

MEXICO CITY, Feb 22 (Reuters) - Mexican broadcaster Televisa has concluded that a spin-off of business units would not benefit shareholders, the company’s co-chief executive said on a call with investors on Friday.

“We concluded that a partial or complete separation ... will not produce shareholder value and would have a negative impact on our competitive position,” said Alfonso de Angoitia, Televisa’s co-chief executive.

The company had previously said it was considering spinning off certain business units, in particular its cable unit.

De Angoitia added that the company’s capital expenditures would be around $1 billion this year. (Reporting by Julia Love Editing by Dave Graham)

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