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Chilean telco VTR sells stake for $333m
22 January 2010
A family group is buying a 20% stake in Liberty Media’s Chilean cable and broadband operator, VTR
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A Chilean family owned company, CorpGroup, is buying a stake in cable-television and broadband provider, VTR, for $333 million. The stake is being sold by a glass container producer, Cristalerias de Chile, which is selling its 20% share in the company.
The transaction will be paid in full on May 19 2010. The largest cable-television and broadband provider in Chile, VTR is owned by Liberty Media through its international subsidiary, UnitedGlobalCom.
Chilean Saieh family, which owns CorpGroup, is already involved in financial, media and retail sectors. The Saieh family also manages local bank, Corpbanca, and newspaper, La Tercera.
The acquisition is conditional on VTR registering its shares on the Santiago securities exchange. GTB