Telecom Argentina to seek USD 3 bln in bonds for infrastructure push

Thursday 7 December 2017 | 11:20 CET | News

The board of Telecom Argentina has approved a programme to seek up to USD 3 billion on the capital markets to support infrastructure rollout and future business plans, reports website iProfesional. The company is controlled by Fintech, the investment firm of Mexican financier David Martinez Guzman, which has an ambitious plan to invest over USD 2 billion by 2019 in a major infrastructure push to better compete in the country's quad-play market ahead of a forthcoming regulatory shake-up.

The formal proposal to issue the corporate bonds will be discussed on 28 December, with the company looking to extend the programme’s validity to the maximum legal period of 5 years, said the report. 

Argentina’s telecommunications regulator Enacom last week approved Telecom Argentina’s absorption of Telecom Personal, Nortel and Sofora, opening the way for its merger with Cablevision.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

::: add a comment