SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 14 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported) September 30, 1997
MASTEC, INC.
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(Exact Name of Registrant as Specified in Charter)
Delaware 0-3797 59-1259279
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(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
3155 N.W. 77th Avenue, Miami, Florida 33122-1205
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (305) 599-1800
N/A
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(Former Name or Former Address, if Changed Since Last Report)
Item 5. Other Events
On September 30, 1997, the Company announced that
it had agreed to sell 5.5% of Supercanal Holding, S.A., an
argentine cable television operator, to Multicanal, S.A.,
one of the leading cable television operators in Argentina,
for $20 million in cash. Supercanal shareholders have agreed
to convert a portion of the Company's 23.3% equity stake in
Supercanal ordinary shares to preferred, non-voting shares
with registration rights.
On October 6, 1997, the Company announced that it
had agreed to sell its indirect equity interest in Consorcio
Ecuatoriano de Telecomunicaciones S.A. (Conecel), an
Ecuadorian cellular telephone company, to Devono Company
Limited, a British Virgin Islands holding company, for $20
million in cash and $45 million worth of non-voting common
stock of Conecel. Devono has also agreed to grant the
Company registration rights on the Conecel shares.
On October 10, 1997, the Company announced that the
labor unions representing the workers of Sintel, S.A, the
Company's Spanish subsidiary, were suspending the work
stoppages at the subsidiary for 20 days and would meet with
management to discuss negotiations for a new labor agreement
The company has issued press releases announcing
the foregoing events, copies of which are attached as
exhibits 99.1, 99.2, and 99.3, which are incorporated herein
by reference.
Item 7. Financial Statements and Exhibits.
(c)
99.1 Press release dated September 30,1997.
99.2 Press release dated October 6, 1997.
99.3 Press release dated October 10, 1997.
SIGNATURES
Pursuant to the requirement of the Securities
Exchange Act of 1934, the Registrant has duly caused this
report to be signed on its behalf by the undersigned
thereunto duly authorized.
Date: October 16, 1997. /s/ Edwin D. Johnson
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Edwin D. Johnson
Senior Vice President-
Chief Financial Officer
(Principal Financial Officer
and Authorized Officer)