UPDATE 4-Telecom Italia says Fintech asks for extension on Argentina deal

jueves 25 de septiembre de 2014 18:13 GYT
 

* Telecom Italia board to examine Fintech's proposal Friday

* Argentine regulator has not yet decided on deal -source

* Deal completion deadline has already been pushed back twice

* Italian junior minister says unaware of Trujillo bid plans (New throughout, adds details; report on possible rival bid)

By Danilo Masoni and Juliana Castilla

MILAN/BUENOS AIRES, Sept 25 (Reuters) - Investment company Fintech has asked Telecom Italia to further extend an agreement to buy the Italian group's controlling stake in Telecom Argentina, Telecom Italia said on Thursday, in a last-minute attempt to ensure the sale does not fall apart.

Telecom Italia agreed to sell its 22.7 percent stake in Telecom Argentina to the investment company of Mexican billionaire David Martinez for $960 million almost a year ago. In a statement late on Thursday, it said it would examine Fintech's proposal at a board meeting on Friday.

It gave no details about Fintech's proposal and a Telecom Italia spokesman was not immediately available to comment.

Italian daily La Repubblica said on Thursday Fintech and the Italian company had agreed on a compromise whereby the deadline for completion of the deal would be extended by 2-1/2 years, with penalties attached if it does not go through.   Continuación...