Telefonica, HTM&F Go Own Ways in Argentina.(Brief Article)

Multichannel News, January, 2000 by GOODMAN, JOSHUA

BUENOS AIRES, ARGENTINA -- The always-steamy Argentine tango between Spain's Telefonica S.A. and Dallas-based investment fund Hicks, Muse, Tate & Furst Inc. has drawn to a close. Well, sort of: After months of embittered negotiations, the two companies said last week that they would divide $4 billion in Argentine media and telecommunications assets they jointly control.

In exchange for its 25.5 percent stake in Telefonica de Argentina S.A., HMT&F will gain majority control of Cable Vision, one of Argentina's leading MSOs, as well as a 3 percent equity stake in Spain's Telefonica. According to industry analysts, the deal could be a potential boon for CableVision, which can now position itself as a major competitor to Telefonica in the country's...

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