The head of social security agency (ANSES) has suggested that the state will become a more active investor in companies where it holds shares, which include the incumbent Telecom Argentina.
In a statement on 14 April, the executive director of ANSES,…
The head of social security agency (ANSES) has suggested that the state will become a more active investor in companies where it holds shares, which include the incumbent Telecom Argentina.
In a statement on 14 April, the executive director of ANSES, Diego Bossio, said that it was only fair that the state holds voting rights proportional to its economic stake. He argued this would help ensure profitability for the company and returns for Argentine society.
On 13 April, the government repealed rules limiting its voting rights in companies where it has ownership to just 5% – even if its economic stake was significantly higher.
ANSES, which Bossio claims is the country’s largest institutional investor, holds a 20.83% stake in Telecom Argentina, according to the company’s 2010 annual report.
