The Dallas-based buyout shop Hicks, Muse, Tate & Furst Inc. announced this week that it has completed the acquisition of a 32.7% equity stake in CEI Citicorp Holdings, a leading Argentine telecommunications, cable TV and media holding company.

Hicks Muse and certain of its limited partners have invested about $720 million of capital in CEI, buying shares that were held by Citibank NA and a wealthy Argentine family.

CEI has investments in the country's largest telephone company, its largest cable television operator, a large magazine publisher, and several TV stations.

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