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TI receives US$680m Telecom Argentina offer

Connectivity BusinessbyConnectivity Business
March 22, 2010
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Telecom Italia has received a US$680m offer from Brazilian businessman Nelson Tanure for its stake in Sofra, the holding company which controls Telecom Argentina.
Telecom Italia holds a 50% stake in Sofra alongside the Werthein Group. Sofra controls…

Telecom Italia has received a US$680m offer from Brazilian businessman Nelson Tanure for its stake in Sofra, the holding company which controls Telecom Argentina.

Telecom Italia holds a 50% stake in Sofra alongside the Werthein Group. Sofra controls Telecom Argentina. The Italian incumbent has been ordered to sell off its indirect stake in Telecom Argentina by the local government, due to its indirect ownership by Spanish operator Telefonica, which controls the other leading telco on the Brazilian market.

Brazilian reports now indicate the businessman has already held talks with Telecom Italia regarding a potential US$680m bid for the stake. The bid price is said to be the highest the operator has received so far.

Tags: Telecom ArgentinaTelecom ItaliaWerthein
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