GCLA.L Regulatory News (GCLA)

2 Nov 2009 18:24



2nd November 2009

GRUPO CLARIN S.A.

Court of Appeals reverses 

Federal Court decision in re "Multicanal S.A. and others v. CONADECO"

On 29 October 2009, Grupo Clarín S.A. (the "Company") informed the Argentine Securities Commission ("CNV") that on that day its subsidiary Cablevisión S.A. had been served notice of a decision rendered on 23 October 2009 by Chamber 3 of the Federal Court of Appeals for Contentious Administrative Matters (Cámara en lo Contencioso Administrativo Federal) in re "Multicanal S.A. - Inc. Med- and others v. CONADECO - Dto 527/05 and others; ordinary proceeding". Attached hereto is an English translation of the relevant points of said decision.

[A complete Spanish version of the decision is available online at the Company's website.]

Enquiries:

In Buenos Aires:

Alfredo Marín

M. Julia Díaz Ardaya/Alejandro Yu

Grupo Clarín

Email: investors@grupoclarin.com

In London:

Alex Money/Lorna Ellen

Temple Bar Advisory

Tel: +44 20 7002 1080

Email: clarin@templebaradvisory.com

In New York:

Melanie Carpenter/Peter Majeski

I-advize Corporate Communications

Tel: +1 212 406 3692

Email: clarin@i-advize.com

FREE TRANSLATION

National Judicial Branch

File No. 14,024/2008, "MULTICANAL S.A. AND OTHER -INC MED- V. CONADECO - DTO 527/05 AND OTHER ON ORDINARY PROCEEDING"

Buenos Aires, 23 October 2009.

[RECITALS intentionally omitted]

[…] We hereby DECIDE:

1) To dismiss the request for suspension of the appeal proceedings.

2) To extract the statements filed under pages 1020/31 and 1031/2 (reverse) of the docket, making a note of such extraction, and to return them to the parties that made such filings, as stated at the end of Recital IV. [1]

3) To rule in favour of the appeals filed by the National Antitrust Commission and COMFER and, consequently, revoke the resolution under appeal to the extent that such resolution granted the injunction requested by plaintiff.

4) To impose the costs of this instance on the plaintiff as the defeated party (pursuant to Section 68 of the Code of Procedures).

For purposes of Section 109 of the National Judiciary Rules, we note that Dr. Sergio G. Fernández, a member of this court, does not sign this decision because he issued the resolutions dated 30 November 2005 and 13 December 2006 as first instance judge.

Let this decision be registered, notified and the docket returned to the Federal Court.

[…]

Signed: Jorge Esteban Argento 

Carlos Manuel Grecco

[1]Statements filed by Multicanal S.A. (plaintiff) and Partido Movimiento Popular para la Reconquista (a co-defendant), whereby both requested that COMFER be made a party to the proceedings, the appeal be suspended and the docket returned to the first instance court.