21 Dec 2009 16:14
GRUPO CLARIN S.A.
Federal Court grants appeal before Supreme Court
On 18 December 2009, Grupo Clarín S.A. (the "Company") informed the Argentine Securities Commission ("CNV") that on 16 December 2009, Chamber No. 3 of the Federal Court of Appeals on Administrative Litigation Matters (Cámara en lo Contencioso Administrativo Federal) granted an extraordinary appeal requested by the Company and Multicanal S.A. in re "Multicanal S.A. - Inc. Med- and others v. CONADECO - Dto 527/05 and others; ordinary proceeding," against that court's decision of 23 October 2009. The court of appeals' decision had revoked an injunction ordered by the first instance court at the request of the Company and Multicanal S.A., suspending the effects of COMFER Resolution No. 0577/2009 and CNDC Resolution No. 106/2009. These resolutions were aimed at halting the economic concentration process of Cablevisión S.A. and Multicanal S.A., subsidiaries of the Company. The revocation of the injunction by the court of appeals will now be reviewed by the Argentine Supreme Court. Pending such review, the injunction recovers full force and effect.
Attached hereto is a free translation of the relevant provisions of the decision rendered on 16 December 2009.
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. 14,024/08: "Multicanal S.A. - Inc. Med- and others v. CONADECO - Dto 527/05 and others; ordinary proceeding". Court No. 2
Buenos Aires, 16 December 2009
[Recitals Intentionally Omitted]
[…] Therefore [this court] hereby DECIDES: to grant the extraordinary appeal requested on pages 1045/64, to the extent described above.
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 file sent to the Argentine Supreme Court by standard notice.
Signed: Jorge Esteban Argento and Carlos Manuel Grecco.