The CEO of Italian incumbent Telecom Italia has said that his company would be interested in increasing its stake in Argentine telco Telecom Argentina if the conditions are “rational”, according to a Reuters report.
A Telecom Italia spokeswoman…
The CEO of Italian incumbent Telecom Italia has said that his company would be interested in increasing its stake in Argentine telco Telecom Argentina if the conditions are “rational”, according to a Reuters report.
A Telecom Italia spokeswoman would not make any further comment.
Telecom Italia currently holds a 68% stake in Sofora Telecomunicaciones, which in turn owns 74% stake in Nortel Inversora, which is the majority owner of Telecom Argentina with a 54.74% stake.
Sofora Telecomunicaciones was originally a 50/50 JV between Telecom Italia and the Argentine Werthein Group.
Yet Telecom Italia has been increasing its stake. In March, it announced that it would be acquiring 10% of Werthein’s stake for US$145m, bringing its stake in Sofora up to 68%.
