Televisa says Iusacell requires USD800m over the next three years

Mexican broadcaster Televisa says that its 50%-owned wireless subsidiary Iusacell will require USD800 million in investments over the next three years, reports Reuters citing Televisa’s executive vice-president. Alfonso de Angoitia told investors on a conference call that Iusacell could either issue debt or that Televisa and Grupo Salinas, owner of the remaining 50%, could split the investment equally. According to TeleGeography’s GlobalComms Database, Iusacell’s share of the Mexican mobile subscriber market has grown from 4% two years ago to around 6.5% at the end of September 2012. ‘Obviously we are aiming much higher, we want to reach a market share of 15% to 20%,’ the executive said. America Movil currently controls 70% of the country’s wireless subscribers, with Telefonica accounting for 20%. Iusacell and Nextel make up the remainder.