Antitrust regulators gave the green light to Televisa's proposal to purchase a stake in NII Holdings' Mexican unit.

A bid by Televisa (TV.N)(TLVACPO.MX) for up to 40 percent of the company could rise above $1 billion, according to recent reports from local media.

NII's (NIHD.O) Nextel Mexico is the No. 4 player in the cellphone market in Mexico but generates higher revenue per customer than its two closest competitors. Carlos Slim's America Movil (AMXL.MX)(AMX.N) leads the market.

Reuters report

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