Telecom expands outside Argentina with TuVes
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Juan Fernandez Gonzalez
| 06 July 2017

Immediately after reaching a merger agreement with Cablevisión to create a giant pay-TV player in Argentina, Telecom has announced the acquisition of a major stake in Paraguay satellite operator TuVes.

Argentina’s largest telco has announced an agreement to buy 70% of TuVes for only $6,200, although $8.8 million more has been invested to capitalise the Paraguayan operator. The operation has been carried out through Núcleo, a mobile player that has been operating since 1998 under the Telecom Personal brand in Paraguay.

The move strengthens Telecom’s position outside Argentina, right after a merger agreement with Cablevision has secured its leading position in its home market.

Last weekend, Telecom and Grupo Clarin’s pay-TV player announced a deal that will shake Argentina’s telecom and video markets, as the merged operator will own over 30 million clients, half the fixed broadband market and over 40% of the pay-TV market.

The preliminary agreement between both companies has been approved by the boards of directors, but is still dependant on getting the green light from Argentina’s telecom authority Enacom.