BUENOS AIRES, Argentina-SkyOnline signed a letter of intent stating that it will buy Diveo Broadband Networks’ Argentine and Uruguayan branches for about US$7 million. This decision is in line with recent trends in the region, which has seen numerous companies selling their operations at prices that bear no relation to the sums they initially invested.
In Argentina, Diveo offers a data transmission service on its fixed wireless network at 10.5 GHz, 23 GHz and 38 GHz. Since the beginning of its activity in the area around March 1999, it has invested almost US$150 million.
Previous to this acquisition, SkyOnline, the investment fund formed by Suez, NIT and Pequot, earlier this year bought the Latin American unit of Teleglobe, with 13 subsidiaries in countries of the region, and three Argentine Internet service providers (ISPs), Abaconet, Giga Systems and Internet Providers.
