Telecom Argentina has announced the appointment of current Cablevision chief executive Carlos Moltini as its new CEO. The appointment forms part of the proposed merger of the two companies announced in July but yet to receive regulatory approval. Current Telecom Argentina CEO German Vidal is stepping down immediately to take on a new role within the company, said the operator in a statement to the Buenos Aires stock exchange.
The companies said they decided to merge their operations with a view to moving into the quad-play market in time for the opening of the local telecommunications sector set for January 2018. If the merger is finally approved the new entity would have a 55 percent share of the local broadband market, putting pressure on rivals such as Claro (America Movil) and Telefonica.
