GTD buys Telsur for USD115 million

3 Dec 2009

Chilean financial and industrial conglomerate Quinenco has agreed to sell Telefonica del Sur (Telsur) to rival telco GTD for USD115 million, writes BNamericas citing a filing sent to securities regulator SVS. Quinenco holds a 74.43% stake in Telsur and is expected to carry out a public share offering to try to up this to 100%. In a press release GTD underscored the attractiveness of Telsur, which transformed itself from a fixed line operator into a multi service provider offering a range of broadband and broadcast services. By the end of 2009, GTD and Telsur will have a combined customer base of 480,000 subscribers in internet, fixed and wireless telephony and digital TV. GTD is expecting sales for 2009 of USD175 million, while Telsur predicts annual revenues of USD133 million.