The Fintech investment firm of Mexican financier David Martinez will launch a public bid to acquire 45 percent of the listed shares of Telecom Argentina at a price of ARS 46 per share, reports Terra.com, citing a Telecom Argentina statement to the stock market. The offer will result in the operator delisting from the Buenos Aires Stock Exchange, said the report. Fintech completed its acquisition of Telecom Italia’s remaining 51 percent stake in Telecom Argentina for USD 550.6 million earlier this month after the country’s new telecoms regulator Enacom finally approved the transaction.
The Italian group reached a deal back in 2013 to sell its 68 percent controlling stake in Telecom Argentina holding company Sofora to Fintech for USD 960 million. Telecom Italia divested an initial 17 percent stake in Sofora to Fintech around 18 months ago for USD 329.5 million but both parties have been waiting for the approval of the newly-created communications watchdog Enacom after the defunct regulator AFTIC blocked the transaction last October.
