A PYMNTS Company

Argentina: Telecom Italia rethinks LatAm strategy

 |  October 27, 2014

Telecom Italia is reportedly looking to shake up its assets in Argentina, having inked a deal to sell its stake in Telecom Argentina.

According to reports, the Italian telco reinstated an earlier agreement with investment firm Fintech Group to sell Telecom Argentina for about $960 million. The deal was originally agreed upon last November, but the sale remains under antitrust review in Argentina.

Telecom Italia has now agreed to amend the contract with Fintech to include a provision that says the sale of its 51 percent stake in Telecom Argentina is contingent upon approval from telco watchdog SeCom. The Italian firm said that clearance will likely take place “within the next two-and-a-half years.”

Full content: Telegeography

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.