France Telecom sells indirect stake in Telecom Argentina

News Broadband Argentina 31 DEC 2003
France Telecom sells indirect stake in Telecom Argentina
Argentine regulators have approved the sale of France Telecom's indirect stake in fixed-line telecom provider Telecom Argentina to a local investment group. Telecom Argentina issued a press release confirming approval from the Communications Secretary and the Secretary for Defense of Competition, the country's anti-trust regulator. Argentine investment group W de Argentina agreed to pay $121 million (EUR 96.8 million) for France Telecom's 48% stake in Sofora Telecomunicaciones SA, a new holding company created by Telecom Italia and France Telecom. Sofora owns a 51% stake in Nortel Inversora SA , which in turn owns 55% of Telecom Argentina.

Categories:

Fixed

Companies:

France Telecom,  Telecom Italia,  Nortel

Countries:

Argentina

Tags:

Mergers & Acquisitions

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