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Multinational: Spain’s Telefonica targeted over Telecom Italia pursuit

By  |  September 24, 2013

Following a merger announcement, sources told reporters Tuesday that antirust authorities in Argentina will look into Spain’s Telefonica over its pursuit of Telecom Italia, both of which operate in the country, though Argentina will not likely be the only nation to review the deal.

A source from Argentina’s watchdog, the CNDC, said the deal will be probed “to ensure competiveness in the Argentine marketplace.”

The telco companies announced Tuesday they reached a $1.2 billion agreement, which will see Telefonica upping its stake in Telco, the company that owns a controlling stake in Telecom Italia.

Reports describe the transaction as “complex” and one dependent upon regulatory approval.

Full Content: Reuters

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