Antitrust agency approves Multicanal - Cablevision merger

11 Dec 2007

BNamericas, quoting local paper La Nacion, reports that Argentina’s antitrust agency CNDC has approved the merger of local cablecos operators Multicanal and Cablevision. owned by Argentine media giant Grupo Clarin and US investment fund Fintech Advisory respectively. The merger was originally agreed in September 2006 and involved some USD1.1 billion in share swaps. Clarin has 60% of the new holding company and Fintech the remainder. CNDC approved the operation on the condition the two groups would continually invest in improving the quality of service, although it is not clear how this will be measured. The merger also includes the internet business Prima and cable TV operator Teledigital of Grupo Clarin, and ISPs FiberTel and Ciudad Internet owned by Multicanal and Cablevision respectively. Multicanal and Cablevision will continue operating with separate brands and are currently investing some USD611 million between them to digitalise their networks.

Argentina, Cablevision (FiberTel), Multicanal Argentina