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Article: U S WEST Media Group Sells Its Stake in Argentine Cable Venture

Article from:
PR Newswire
Article date:
October 27, 1997
Copyright 
 
 CEI Citicorp Holdings and Telefonica 
 Purchase Video Cable Communicacion, 
a Cable Venture with Approximately 684,000 Subscribers

ENGLEWOOD, Colo., Oct. 27 /PRNewswire/ -- U S WEST Media Group (NYSE: UMG) today said it sold its 90 percent stake in Video Cable Communicacion (VCC) pursuant to its agreement with CEI Citicorp Holdings SA and Telefonica Internacional de Espana. Argentine businessman Samuel Liberman, owner of the remaining ten percent of VCC, sold his portion as well.

The total sale price of the venture was approximately $1.1 billion, with consideration in the form of cash and assumption ...

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