29 de octubre de 2014 / 20:53 / hace 3 años

Telecom Italia sells 17 pct in Sofora to Fintech for $216 mln

MILAN, Oct 29 (Reuters) - Telecom Italia said on Wednesday it had transferred a 17 percent stake in its Telecom Argentina holding company Sofora to Fintech for $215.7 million, as part of a deal to sell its entire stake in the Argentinian phone group to the New York-based fund.

The Italian telecoms group agreed almost a year ago to sell its controlling stake in Sofora to Fintech for $960 million, but Argentina’s telecoms regulator SECOM has been slow to approve the deal.

Last month Telecom Italia said it expected SECOM’s approval within two and a half years, and that in the meantime it would sell an initial 17 percent in Sofora to Fintech for $216 million.

The phone company plans to then sell its remaining 51 percent controlling stake in Sofora to Fintech once regulators give the green light, cashing in on the remaining $960 million.

Reporting by Oleg Vukmanovic, editing by Valentina Za

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below