Argentina. On June 30, it was known that the boards of Cablevisión and Telecom reached an agreement through which Telecom will absorb 100% of Cablevisión, thus giving way to the birth of a telecommunications giant in Argentina.
Cablevisión is the largest pay-TV and Internet provider in Argentina, owned by the Clarin Group. In this way, Telecom, owned by the Fintech investment group, will now be able to offer its customers quadruple play services, that is, subscription TV, internet, mobile telephony and fixed telephony in a single package, which today has 25 million customers adding the four lines.
According to the information released by both companies, this merger will allow greater investments in more modern infrastructure of mobile technologies and the deployment of high-speed fiber optics.
To complete the merger process of both companies, regulators, including the National Telecommunications Entity, Enacom, and the Ministry of Defense of Competition, must give their approval. In addition, cablevisión's shareholders' meeting will meet on August 31 to approve the merger and dissolution of the company.
If the merger is approved by all parties involved, it will take effect on January 1, 2018.
