Grupo Clarín studies investment options with cash from sale of Cablevisión

Bnamericas Published: Tuesday, November 20, 2012
Argentine media giant Grupo Clarín is studying investment opportunities with the fresh funds obtained from the sale of its Cablevisión unit in Paraguay, investor relations officer Alfredo Marín said during a conference call with investors. "We're analyzing several alternatives regarding that. We do not have a decision on this issue yet. We have the cash and we will have to wait to see what our board decides to do," Marín said. In July, Millicom, which operates under the Tigo brand, signed a binding agreement to fully acquire Paraguayan pay TV operator Cablevisión for US$150mn. The acquisition was completed last month after receiving regulatory approval by the local telecoms watchdog Conatel. Millicom said that Cablevisión's financial results will be reported as part of Millicom's South American operation. At the end of the third quarter, Cablevisión Paraguay had a total of 122,900 cable TV subscribers in the country, an increase of 7% compared to a year ago, Grupo Clarín said in its latest quarterly report. Meanwhile in the broadband segment Cablevisión had over 13,600 broadband subscribers in Paraguay, Grupo Clarín said. Cablevisión launched operations in the country in 1989.

Subscribe to the most trusted business intelligence platform in Latin America. Let us show you our solutions for Suppliers, Contractors, Operators, Government, Legal, Financial and Insurance.

Subscribe to Latin America’s most trusted business intelligence platform.

Other projects in: ICT

Get critical information about thousands of ICT projects in Latin America: what stages they're in, capex, related companies, contacts and more.

Other companies in: ICT (Argentina)

Get critical information about thousands of ICT companies in Latin America: their projects, contacts, shareholders, related news and more.

  • Company: Unitec Blue S.A.
  • Unitec Blue is an Argentinean technology firm engaged in the production of smart cards and technological solutions, including the manufacturing of SIM cards, bank cards with EMV...
  • Company: ISI Mustang
  • International company ISI Mustang provides consulting on project development and technology implementation for the oil, gas, mining, water and energy industries. Its services ar...
  • Company: KMG Fueguina SA  (KMG Fueguina)
  • KMG Fueguina is an Argentine manufacturer of cameras (compact, bridge, action and smart lens) and cell phones. The company has strategic alliances with JK Imaging Ltd., which is...
  • Company: Kaszek Ventures
  • Kaszek Ventures is a Latin American company of risk capital which associates to entrepreneurs, whose business are related to high impact technology, to create new companies and ...
  • Company: Synapsis Argentina S.R.L.  (Tivit Argentina)
  • Synapsis Argentina S.R.L (Tivit Argentina) is a subsidiary of Chilean IT service provider Synapsis SpA (Tivit Chile), which is a part of Brazilian multinational Tivit Terceiriza...