Pursuant to the agreements announced on 14 November 2013 for the transfer of control of Telecom Argentina, Telecom Italia sold to the Fintech group today 15,533,834 Class B shares of Telecom Argentina held by Tierra Argentea (a company controlled by Telecom Italia), representing 1.58% of the share capital of Telecom Argentina, for consideration of USD 61.2 million, and 2,351,752 American Depositary Shares representing 117,588 Preferred B shares of Nortel Inversora, also held by Tierra Argentea, for consideration of USD 47.5 million.
Telecom Italia Group retains control of Telecom Argentina through its 68% stake in Sofora Telecomunicaciones S.A., which it will sell to the Fintech group upon obtaining certain required regulatory approvals.
Rome, 10 December 2013
