The Eurnekian family reportedly borrowed heavily from the former Argentine small Business lender, BANADE, and in 1988, Eduardo Eurnekian purchased "Cablevisión S.A," then a failing local cable tv station. His investment became increasingly lucrative following Economy Minister Domingo Cavallo's implementation of the Convertibility Plan in 1991, which brought financial and price stability to Argentina during the 1990s. Eurnekian in 1994 sold a 51% stake in Cablevision S.A. (by then Argentina's second-largest cable operator), to Tele-Communications Inc. for US$350 million and in 1997, netted US$320 million by selling most of his remaining shares to local investment giant CEI Citicorp Holdings SA.