UPDATE 1-Argentina regulator nixes telecoms sale to Fintech

jueves 15 de octubre de 2015 16:28 GYT
 

(Adds Telecom Argentina reaction)

BUENOS AIRES Oct 15 (Reuters) - Argentina's telecoms regulator on Thursday nixed the sale of a 68 percent stake in Telecom Argentina holding company Sofora to investment firm Fintech, the regulator AFTIC said in a statement.

"The board considers that (Fintech) is not in a position to operate and take control Telecom Argentina's services and infrastructure. Fintech has demonstrated neither experience nor expertise," AFTIC said.

A Telecom Argentina official attending a business conference in the coastal town of Mar del Plata declined to comment on the regulator's announcement.

Sofora is owned by Telecom Italia. (Reporting by Nicolas Misculin; Additional reporting by Jorge Otaola; Writing by Richard Lough; Editing by Chris Reese and Alan Crosby)