Argentinian cable operator Cablevision reported third-quarter revenues of ARS 10.54 billion, up from ARS 9.80 billion in the previous quarter, led by growth in broadband and TV services. Adjusted EBITDA came to ARS 3.73 billion, flat sequentially, with the margin coming to 35 percent. The limited results statement follows Cablevision’s spin off from parent company Clarin on 01 May and a subsequent agreement to merge with Telecom Argentina.
The companies announced the deal in July with a view to moving into the quad-play market in time for the opening of the local telecommunications sector set for January 2018. If the merger is finally approved the new entity would have a 55 percent share of the local broadband market.
In September Cablevision secured a USD 750 million loan to acquire a further 13.5 percent of the shares of Telecom Argentina as part of the merger agreement.
