Argentina seeking to renationalize telecom sector

On 02.23.10, In Mobile, By Editor

www.WirelessFederation.com/news: 42.3% stake in Telco, a holding company that owns 24.5% of Telecom Italia had been acquired by Spain’s Telefonica in April 2007. However, the merger garnered the attention of Argentine anti-trust authorities since approximately 90% of the local telecommunications market was now controlled by Telecom Argentina and Telefonica de Argentina.

Telefonica of Spain’s stake in Telecom Argentina is diluted in numerous intermediary holdings and is thus equivalent to around 2%. Spain’s Telefonica and Telecom Italia’s merger has also been making rounds recently but both the companies have been denying the rumors.

Telecom Italia was ordered by Argentina’s Anti-Trust Commission (CNDC) in August 2009 setting a 12-month deadline for the sale.

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TI shortlists three bidders for its Argentina unit

On 02.15.10, In Mobile, By Editor

www.WirelessFederation.com/news: Three potential buyers have been narrowed down by Telecom Italia (TI) for its 50% stake in Sofora, the holding company that controls fixed line incumbent Telecom Argentina. All the three buyers are local companies whose offers ranging from USD580 million to USD630 million.

Argentina Airports 2000, a consortium led by Eduardo Eurnekian and Henry Gutierrez; property development firm IRSA Inversiones y Representaciones and local investor Alfredo Roman have been identified as the potential buyers.

Earlier this month, issued by the country’s antitrust agency, the National Commission for the Defense of Competition (CNDC) has been revoked by a court in Argentina in which TI was ordered to sell its 50% shareholding in Sofora.

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Telecom Argentina antitrust case halted by Argentina court

On 02.03.10, In Mobile, By Editor

www.WirelessFederation.com/news: Antitrust Commission ruling that Spain’s Telefonica SA’s ownership stake in Telecom Italia SpA violated the country’s competition laws has been thrown out by an Argentine court which in turn ruled that the CNDC, doesn’t have the right to order Telecom Italia to sell its shares in Telecom Argentina.

According to the decision, a federal court for the defense of competition must be formed to rule on the issue and it also feels that it’s truly a legal scandal that the law, passed in September 1999, that is over ten years ago, has not been complied with because of a delay from the executive power.

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Telecom Italia’s nationalization not on cards- Argentina govt

On 02.02.10, In Mobile, By Editor

www.WirelessFederation.com/news: Argentina government has made it clear that there are no plans to nationalize Telecom Argentina SA but will do whatever is necessary to force agreement with an antitrust commission order to end a monopoly in the local telecommunication sector.

According to Cabinet Chief Anibal Fernandez, the goal was never to nationalize Telecom, but to make sure that Telefonica complies with the order to sell the stake that it has to sell, like in any part of the world when there’s a monopoly.

Telecom Italia SPA has been ordered by Argentina’s antitrust commission, the CNDC, to sell its stake in Telecom Argentina, saying the local telecommunications market became a monopoly after Spain’s Telefonica SA bought a minority stake in Telecom Italia. On the contrary, Telecom Italia fought hard against the order and obtained a lower court ruling suspending the August 25 deadline of CNDC to sell the stake.

Later, European telecommunications lobby group ETNO urged the European Commission to intervene in the dispute and currently, U.S. Securities and Exchange Commission is also investigating the forced sale.

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