Telecom Argentina ends TuVes Paraguay acquisition process

As reported by Telecom Argentina in its Q3 2019 quarterly results report, the company confirmed it has acquired a 30% of the Paraguayan DTH operator TuVes shareholding package. This way, the agreement ran in 2017 was completed, whereby Telecom Argentina, through is Paraguayan subsidiary Nucleo, had acquired TuVes in a 70%. 

TuVes provides telecommunications and satellite distribution services for pay TV networks in Paraguay, and records around 81 thousand subscribers, thanks to an agreement with Personal, Telecom Argentina’s brand in Paraguay, by which the DTH operator was launched in June 2016.

Three years later, Telecom Argentina acquired 211,848 Series B shares by Nucleo, which represent 30% of the company’s capital stock in Paraguay, from Chile’s TuVes HD, valued at USD 1 million. The acquisition became effective after the approval of the Paraguayan National Telecommunications Commission (Conatel).