Telecom Italia’s (TI) drawn-out sale of its 68 per cent interest in Telecom Argentina to Fintech has been approved by Argentina’s new telecoms regulator Enacom, according to La Nacion.
The watchdog also gave the green light to NII Holdings’ sale of its 51 per cent stake in Nextel Argentina to Cablevision.
A source told the paper “we carried out a technical assessment and the transactions are impeccable”. However, the acquisitions still need approval from the country’s anti-trust regulator.
Back in October, then telecoms regulator AFTIC blocked the TI sale in Sofora Telecomunicaciones, Telecom Argentina’s holding company, to Fintech, a deal worth $960 million.
AFTIC said Fintech had not demonstrated it had the “experience and expertise” to run the fixed and mobile operator.
Earlier this week, businessman Carlos Newbery was ready to make a fresh attempt to acquire Telecom Italia’s controlling stake in Telecom Argentina, offering 10 per cent more than the sum agreed by investment firm Fintech.
The NII Holdings’ sale will give Cablevision 100 percent ownership of Nextel, Argentina’s fourth largest mobile operator.