Loading...
Loading...
In a report published Thursday, Morgan Stanley analyst Michel Morin reiterated an Overweight rating on
Grupo Televisa SABTV, but removed the $42.00 price target.
In the report, Morgan Stanley noted, “Since its inception in 2012, the 50-50% JV included a ‘Texas shoot-out' conflict resolution mechanism, which begins when one party informs the other of their intention to sell their stake at a specific price. This offer must then be accepted; otherwise the party that declines the offer is forced to sell its stake at that same price. In this case, it would appear that Televisa initiated the shoot-out with the $717mn bid and that Salinas agreed to buy out TV's 50% stake at that price. If the deal closes,TV would take a $320mn charge,as the company had previously written down a portion of its investment, which totaled approximately $1.7bn in the three years since 2011.”
Grupo Televisa SAB closed on Wednesday at $36.58.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in