Following Friday’s news of an agreement between JV partners in Sofora -Telecom Italia and family office, Grupo Werthein – it was confirmed that TI has increased its stake in the holding company of Telecom Argentina. Prior to the agreement, TI and…
Following Friday’s news of an agreement between JV partners in Sofora -Telecom Italia and family office, Grupo Werthein – it was confirmed that TI has increased its stake in the holding company of Telecom Argentina. Prior to the agreement, TI and Werthein were 50:50 partners in Sofora. But, according to various reports, Werthein has now agreed to sell 4% of its holding to TI. In compensation, Werthein will have more say in the strategic, auditing and regulatory direction of the company. TI will have to apply for government approval to buy the stake, as it has been in a long-standing anti-monopoly row with the regulator about its own part ownership by Spain’s Telefonica; controller of Argentina’s other major telco, but a representative of the Werthein family told Reuters that he could see no regulatory problem with the transaction being approved.
