Costa Rica’s ICE absorbs Cable Visión business

The Costa Rican Electricity Institute (ICE) has assumed the rights to operate its subsidiary Cable Visión. The state-owned company said in a statement that all Cable Visión services will continue operating normally.
“The assignment of rights and obligations will allow maintaining and strengthening the offer of telecommunications and Internet services provided by the cable company, in accordance with the corporate strategy of Grupo ICE,” the statement said.
The Corporate Telecommunications Directorate (DCT) of ICE will be responsible for directing the transition, operation and commercialization of the services currently offered by CVCR.
La Nación newspaper reported that Cable Visión was acquired by ICE in December 2013 for USD 12.3 million, when its finances were already deteriorated, according to a report from the Comptroller’s Office. The transfer of rights and obligations became known shortly after it was revealed that ICE injected a financial lifeline of ¢23,000 million (USD 37.8 million) into the operator, after buying it.