Deadline for TI to sell Telecom Argentina stake scraped by Argentina court

www.WirelessFederation.com/news: Government’s deadline of February 25, 2010 by which Telecom Italia (TI) had been ordered to sell its 50% stake in Sofora, the holding company that controls Argentine fixed line incumbent Telecom Argentina, has been suspended by an appeals court in Argentina. TI’s chief executive, Franco Bernabe hailed the decision as the victory of justice system in Argentina.

An appeal was made by TI in an Argentina court against Argentine government’s decision ordering it to sell its stake in Sofora by February 25 or face intervention in the process.

In august 2009, it was ruled by Argentina that the antitrust legislation has been violated by TI’s shareholding in Telecom Argentina and ordered the company to sell the 50% stake, as Spain’s Telefonica.