No approval yet for Telecom Italia's sale of Argentine unit -regulator

miércoles 24 de septiembre de 2014 17:31 GYT

BUENOS AIRES, Sept 24 (Reuters) - Argentina's competition watchdog has not yet decided whether to approve Telecom Italia SpA's $960 million sale of its Argentine unit to investment fund Fintech, a source at the regulatory body said on Wednesday.

"The process is moving normally. But there is no news so far," the source at the National Commission for the Defense of Competition told Reuters.

The heavily indebted Italian phone group agreed to sell its 22.7 percent controlling state in Telecom Argentina almost a year ago. The company said this month the deal could not be put off indefinitely and if Argentina failed to approve it by Thursday, the board would rethink the operation. (Reporting by Juliana Castilla; Writing by Richard Lough; Editing by David Gregorio)