Telecable secures Cable Costa takeover approval

17 Jan 2019

Costa Rica’s Superintendency of Telecommunications (Superintendencia de Telecomunicaciones, Sutel) has approved Telecable Economico’s proposed takeover of regional cableco Cable Costa, which serves the Turrialba and Jimenez cantons of Cartago province. The market share of the combined entities will remain below 25%, the watchdog observed, and saw no reason to block the transaction. El Financiero cites Gerardo Chacon, the director of Telecable, as saying that the transaction is now expected to close on 1 March 2019. The financial details of the takeover have not been disclosed.

Previously, in June 2018 Sutel approved Telecable’s acquisition of a fibre-optic network in Guanacaste, from Tecnicos de Telecomunicaciones SAL.

Costa Rica, Cable Costa, Superintendencia de Telecomunicaciones (Sutel), Telecable Economico