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State-owned Racsa asks authorities to approve Cablevisión Costa Rica takeover

Wednesday, February 1, 2012

State-owned Racsa, a subsidiary of the Costa Rican electricity and telecoms provider ICE has formally asked for permission to acquire Cablevisión of Costa Rica.

Both Racsa and Cablevisión are awaiting the approval of the competition authorities for the proposed acquisition.

The purchase of Cablevisión forms part of Racsa's action plan to overcome the financial difficulties that have plagued it in recent years.

Source (in Spanish): La República