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Mexico’s Grupo Hevi Said to Hire Barclays to Explore Sale

Grupo Hevi, the closely held owner of Mexico’s Telecable TV service, has hired Barclays Plc (BARC) to explore a sale, according to people familiar with the matter.

Among the potential buyers are Megacable Holdings SAB (MEGACPO), the nation’s largest cable-TV company, said two of the people, who asked not to be named because the plans are private. Hevi could fetch more than $500 million in a sale, one of the people said.

A sale would put one of the biggest remaining independent cable companies in Mexico up for grabs. Guadalajara, Mexico-based Hevi, named for founder and Chief Executive Officer Hector Vielma, has more than 350,000 subscribers across 10 Mexican states.

Megacable, also based in Guadalajara, said in February that it would be interested in acquiring Hevi if it was put up for sale. Grupo Televisa SAB (TLEVICPO), the Mexico City-based broadcaster, controls three cable carriers -- Cablemas, Cablevision and TVI - - and has said it aims to collect more.

“There are very attractive opportunities in the cable sector and also other assets on the telecommunications front in Mexico,” said Alfonso de Angoitia, Televisa’s executive vice president, on a conference call last month. “We will, as we have mentioned in the past, continue to seek opportunities to consolidate in that sector.”

Representatives for Grupo Hevi, Megacable and Televisa who can’t be named under their companies’ policies declined to comment, as did Brandon Ashcraft, a Barclays spokesman.

To contact the reporters on this story: Jonathan Levin in Mexico City at jlevin20@bloomberg.net; Crayton Harrison in New York at tharrison5@bloomberg.net

To contact the editors responsible for this story: Nick Turner at nturner7@bloomberg.net; David Papadopoulos at papadopoulos@bloomberg.net

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