A PYMNTS Company

Telecom Argentina Wins Conditional Approval for Telefónica Acquisition Following Antitrust Review

By  |  June 21, 2026
telecom AI

Telecom Argentina has received conditional approval from Argentina’s competition authorities to move forward with its acquisition of Telefónica Móviles Argentina, but only after agreeing to significant divestitures designed to address antitrust concerns and preserve competition in the country’s telecommunications sector.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    Subscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The approval marks a major development in a transaction that has faced regulatory scrutiny since Telefónica agreed to sell its Argentine operations to Telecom Argentina in a deal valued at approximately $1.245 billion. The acquisition drew concerns from regulators over the potential concentration of market power in mobile, broadband and other telecommunications services.

    According to a report published by TipRanks, citing Telecom Argentina’s regulatory disclosure, the country’s Antitrust Tribunal approved the transaction subject to a series of remedies aimed at reducing the combined company’s market share. These conditions include the divestiture of at least 6 million mobile subscribers, associated wireless spectrum assets and more than 211,000 residential internet customers.

    Competition authorities determined that the measures were necessary to mitigate the risk that the merger could substantially lessen competition in key telecommunications markets. Regulators have previously warned that the combination of Telecom Argentina and Telefónica’s local operations could strengthen the company’s position in several segments of the industry and increase concentration levels in certain regions.

    Read more: French Telecom Giants’ €20.35 Billion SFR Breakup Faces Lengthy Antitrust Review

    The deal has been the subject of a lengthy regulatory review. Argentine authorities temporarily suspended the transaction in 2025 while examining whether the acquisition could create a dominant market position and reduce competitive pressure on pricing and services. The government and competition regulators cited concerns that the merger could leave consumers with fewer alternatives in telecommunications markets.

    Telecom Argentina completed required filings with communications and antitrust regulators after announcing the acquisition in February 2025. The company has maintained that the transaction would support continued investment in network infrastructure and telecommunications services.

    Source: The Globe and Mail