TELECOM ITALIA: FIRST TRANCHE OF SALE OF INTEREST IN TELECOM ARGENTINA TO FINTECH GROUP COMPLETED
11 Dezember 2013 - 7:03AM
Italian Regulatory (Text)
PRESS RELEASE
TELECOM ITALIA: FIRST TRANCHE OF SALE OF INTEREST IN TELECOM
ARGENTINA TO FINTECH GROUP COMPLETED Shares of Telecom Argentina
and ADSs of Nortel Inversora sold for total consideration of
approximately USD 109 million.
Rome, 10 December 2013. Pursuant to the agreements announced on 14
November 2013 for the transfer of control of Telecom Argentina,
Telecom Italia sold to the Fintech group today 15,533,834 Class B
shares of Telecom Argentina held by Tierra Argentea (a company
controlled by Telecom Italia), representing 1.58% of the share
capital of Telecom Argentina, for consideration of USD 61.2
million, and 2,351,752 American Depositary Shares representing
117,588 Preferred B shares of Nortel Inversora, also held by Tierra
Argentea, for consideration of USD 47.5 million. Telecom Italia
Group retains control of Telecom Argentina through its 68% stake in
Sofora Telecomunicaciones S.A., which it will sell to the Fintech
group upon obtaining certain required regulatory approvals.
Telecom Italia Ufficio Stampa
+39 06 3688 2610 http://www.telecomitalia.com/media
Telecom Italia Investor Relations
+39 02 8595 4131
http://www.telecomitalia.com/investorrelations
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