Competition for Buying Cable Company in Costa Rica

Along with two other private sector competitors, the state run Costa Rican Institute of Electricity intends to buy Cable Vision.

Friday, January 27, 2012

The state-owned Instituto Costarricense de Electricidad (ICE) aims to break into the business of cable television and is bidding for the company Cablevision.

This was reported by the ICE Group and Cablevision, separately. In addition, two other companies have also submitted offers to buy the cable company, which mainly provides services in areas having low and middle economic strata, reported Nacion.com.

Leyda Lombana , manager of Cablevision, declined to specify the price of the offers. "Yes, the decision will be made before the end of February, said (Lombana)", states the article on the website.

More on this topic

Business Plans of the Instituto Costarricense de Electricidad

January 2011

ICE plans to join forces with a telecom in order to compete locally and in other countries of the region.

Eduardo Doryan , President of the Instituto Costarricense de Electricidad, and Orlando Cascante, director of International Affairs, confirmed that the company, whom in the past had the monopoly of communications in Costa Rica, is looking for a partner with expertise in telecommunications to create an alliance that can compete effectively in the now open local market, and to initiate a process of internationalization by providing services in Central America.

Panama: Cable Onda acquires Advanced

November 2010

Cable Onda acquired 100% of Advanced operations following an agreement between the shareholders of both institutions.

Following this transaction, Cable Onda increases its market share in business telephone, internet and cable TV in both residential and corporate and SME.

Swedish firm buys AMNET for $510 million

July 2008

The Swedish firm Millicom has purchased the telecommunications company AMNET for 510 million dollars, and will acquire its 350,000 cable clients in Honduras, Costa Rica and El Salvador.

AMNET offers services of cable television, telephone and internet as a multimedia "Triple Play" package.

Costa Rica: $360 Million for Broadband Internet

June 2010

“Radiográfica Costarricense” (Racsa) will invest in a new high speed Internet access network.

The new infrastructure will allow the company, a subsidiary from state-owned “Grupo ICE”, to offer Internet connections with speeds up to 1 GB.
“Oscar Chacón, Racsa’s commercial manager, acknowledged that, in order to become a reality, they must wait for financial authorities to approve a $360 million trust from Banco Nacional, to finance the project”, reported Nacion.com.

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