24 Jun 2016 08:24
GRUPO CLARIN S.A.
Cablevisión and Nextel Make Acquisitions
On 23 June 2016, Grupo Clarín S.A. (the "Company") informed the Argentine Securities Commission and the Buenos Aires Stock Exchange that its subsidiary Cablevisión S.A. ("Cablevision"), together with Cablevision's subsidiary, Nextel Communications Argentina S.R.L. ("Nextel"), had acquired 100%-97% Nextel and 3% Cablevision-of Fibercomm S.A. and Gridley Investments S.A., both of them owners of 100% of the capital stock of Trixco S.A., in turn owner of radio electric spectrum in the 900 Mhz bands.
Additionally, Nextel acquired all of the capital stock of WX Telecommunications LLC and Greenmax Telecommunications LLC, controlling companies of Skyonline Argentina S.A., Netizen S.A., Infotel S.A. and Callbi S.A. The latter companies render wireless telecommunication services and own radio electric spectrum in the 2.5 Ghz bands.
With these acquisitions, Nextel aims to supplement its current spectrum capacity, a necessary step towards the preservations of its competitiveness in the field of mobile communications.
This transition marks the beginning of a process of investment in technology and networks that will allow Nextel and Cablevision to bolster their current services and incorporate new value-added services, such as mobile data.
The aggregate price of the transactions was of USD 138.2 million.
Enquiries:
In Buenos Aires:
Agustín Medina Manson / Patricio Gentile
Grupo Clarín
Tel: +5411 4309 7215
Email: investors@grupoclarin.com
In London:
Alex Money
Jasford IR
Tel: +44 20 3289 5300
Email: alexm@jasford.com
In New York:
Melanie Carpenter
I-advize Corporate Communications
Tel: +1 212 406 3692
Email: clarin@i-advize.com