The Miami Herald
October 19, 1998
Chile's VTR sells TV stake

             Bloomberg News

             SANTIAGO -- VTR SA, a Chilean telephone company, has agreed to sell its
             stake in the country's biggest cable-television operator for $236.5 million to United
             International Holdings Inc., as it unloads its assets in the telecommunications

             VTR -- which is owned by Quinenco SA and SBC International Inc. -- gave
             Denver, Colorado-based UIH the right to buy its two-thirds stake in VTR
             Hipercable SA within the next 180 days, boosting UIH's stake to 100 percent.

             The sale depends on UIH, which owns cable-television systems outside the U.S,
             acquiring financing, Quinenco said. If the sale doesn't go through, a new ownership
             agreement would boost UIH's stake to 40 percent. That's up from 34 percent as
             of June 1997.

             The sale would be the latest by VTR as it unloads its telephone and
             cable-television operations after investing heavily this decade to build up its
             presence in the country's competitive telecommunications market.


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