Argentine operator Telecom Argentina, which is facing an anti-monopoly case, has posted a 46% earnings rise for 2009, with its internet and mobile units performing especially well.
Telecom Argentina CEO Franco Bertone told reporters that the operator…
Argentine operator Telecom Argentina, which is facing an anti-monopoly case, has posted a 46% earnings rise for 2009, with its internet and mobile units performing especially well.
Telecom Argentina CEO Franco Bertone told reporters that the operator earned US$363m in 2009 and cleared the bulk of its outstanding debt.
He reportedly said that the telco paid off the last US$352m of a US$1.9bn loan from 2005 and that it still owed US$150m, through its mobile unit Personal, debt which would be repaid in full in December 2010. The CEO added that the telco planned to propose a ARS1bn (E190m) dividend payout to shareholders at the upcoming shareholder assembly.
The telco is currently in the middle of an anti-monopoly investigation, due to its ownership by Telecom Italia. The Italian telco holds a 50% stake in Sofra, the holding group which controls the Argentine operator. Telecom Italia itself is controlled by Spanish telco Telefonica, which also has Argentine operations. However, Telecom Italia and Telefonica’s Argentine operations are the leaders on the Argentine market.
