Outstanding 1.8% of TdA acquired by Telefonica Spain
www.WirelessFederation.com/news: The remaining 1.8% of Telefonica Argentina (TdA), the Argentine subsidiary of the Spanish telecoms group Telefonica, has been acquired by the company and the TdA’s shares have also been delisted.
The transaction was approved by Comision Nacional de Valores (CNV), Argentine securities regulator, in December 2009, after the Spanish group offered one Argentinean peso a shares or for the roughly 126 million shares of TdA it did not control the previous June.
A month earlier, Telefonica was called over by a minority shareholder at TdA to launch an offer for the remaining shares, highlighting that under Argentine law, companies must make a 100% offer once they control more than 95% of a company’s shares.
Telefonica Argentina to invest over ARS 1.6 bln in 2007
Telefonica Argentina will invest over ARS 1.6 billion in 2007, according to Eduardo Caride, chairman. The investment will go towards offering TV services via its Speedy service, and the continued rollout of broadband and mobile services. The company will develop new products and services related to next-generation technology. The company aims to contribute to bridging the digital gap in Argentina, according to Caride.Telefonica Argentina aims to have 1 million broadband customers at end-2007. The company’s mobile telephony investment will focus on boosting customer loyalty and optimising the network for new 3G services. The company aims to have 13.5 million mobile lines at end-2007, and aims to install over 1,000 new base stations in Argentina. The company invested ARS 1 billion in fixed-line and mobile comms in 2006.
Between 2000-2006, the company raised its customer base to over 11 million, from 1.8 million, and raised its broadband customer base to 500,000 from 25,000. In 2006, over 400 Wi-Fi hotspots were installed in public places. Between 2005-2006, Telefonica Argentina installed over 1,100 new base stations. The company has 4.6 million phone lines.
Source- telecompaper Wireless Mobile Telecom
