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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.

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