04 September 2009

Cristalchile Rises Most Since 1995 on VTR Sale Accord

By James Attwood and Nathan Gill
Sept. 4 (Bloomberg) -- Cristalerias de Chile SA, a glass container producer, rose the most in 14 years after agreeing to sell a stake in cable television company VTR GlobalCom SA.

Cristalchile, as the company is known, rallied 15 percent, the most since April 1995, to 6,420 pesos in Santiago trading.

The company reached an agreement to sell its 20 percent stake in VTR GlobalCom to Inversiones Celfin Capital SA for 167 billion pesos ($303 million), it wrote in a statement posted last night on the Web site of Chile’s securities regulator.

The purchase is subject to VTR registering its shares on the Santiago securities exchange, Cristalchile wrote.