Argentina: Grupo America sells Cable operator after ‘Quadruple Play’ go-ahead

The Cóndor fund, owned by telecommunications entrepreneur Carlos Joost Newbery, has virtually closed their intended purchase of Supercanal, the pay-TV company owned by Grupo América.

The company arranged with the National Communications Agency (ENACOM) to back away from legal actions filed over the proposed sale and, in exchange, to receive the US$20 million that the group had contributed as security at the time of tender in 2014.

It has long been speculated that Joost would eventually sell his cable TV operation to the best offer for a company that – in the run-up to the start of a competitive market – guarantees direct access to 350,000 homes.

Newbery is considered one of the most knowledgeable and experienced figures in the telecommunications market in Argentina. Better known as “Charlie” he was the founder of Movicom BellSouth, the first mobile phone company in the country, along with BellSouth, the Macri Group, Inteltech and Motorola.

Full Content: Jornada Online

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