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Cablemas Announces That Cablestar Has Signed an Agreement to Acquire Bestel

This Site:en.yinlu.net Source:en.yinlu.net Writer: Time:2007-09-02
MEXICO CITY, Aug. 31 /PRNewswire/ -- Cablemas S.A. de C.V. (Cablemas), thesecond-largest cable television operator in Mexico based on number ofsubscribers and homes passed, today announced that Cablestar, S.A. de C.V.("Cablestar"), has signed an agreement to acquire the majority of the assetsof Bestel, a privately held, facilities-based telecommunications company inMexico, for US$256 million in cash plus an additional capital contribution ofUS$69 million, for a total cash amount of US$325 million.

Bestel focuses on providing data and long-distance services solutions tocarriers and other telecommunications service providers in both Mexico and theUnited States. The company owns a fiber-optic network of approximately 8,000kilometers that covers the most important cities and economic regions ofMexico as well as the states of Texas and California in the United States. Thecompany is able to provide connectivity between the United States and Mexico,a key advantage.

Cablestar is owned 70% by Empresas Cablevision, S.A.B. ("Cablevision";BMV: CABLE), in which Grupo Televisa, S.A.B. owns a 51% stake; 15% byTelevision Internacional, S.A. de C.V., which is based in Monterrey, and 15%by Cablemas, S.A. de C.V.

The transaction is subject to certain conditions, including the approvalof regulatory authorities in Mexico.

About Cablemas

Cablemas is the second-largest cable television operator in Mexico basedon number of subscribers and homes passed. As of June 30, 2007, Cablemas'cable network served over 753,161 cable television subscribers, 203,890 high-speed internet subscribers, and 30,202 IP telephony lines, with 2,160,634homes passed.

Cablemas is the concessionaire with the broadest coverage in Mexico,operating in 46 cities throughout the country's oil, maquiladora and touristregions as of June 30, 2007. Cablemas has consistently introduced innovativeproducts in Mexico and is the first cable operator in the country to provide a"Triple Play" bundled service package of cable television, high speed internetand IP telephony. More information about Cablemas can be found at.

This document may contain certain forward-looking statements concerningCablemas' operations, performance, business, financial condition and growthprospects. These statements are based upon beliefs of management as well as anumber of assumptions and estimates, which are inherently subject tosignificant uncertainties, many of which are beyond Cablemas' control. Actualresults may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differmaterially include, but are not limited to, changes in the Mexican economy,including changes in inflation rates or exchange rates, changes in politicalconditions and government policies in Mexico, increased competition,regulatory developments and customer demand. These statements are made as ofthe date of this press release and Cablemas undertakes no obligation topublicly update or revise any forward-looking statements, whether as a resultof new information, future events or otherwise in light of these risks anduncertainties, there can be no assurances that the events described or impliedin the forward-looking statements contained in this document will in facttranspire.

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