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Argentina regulator blocks Clarin's acquisition of Nextel
2015-09-30 10:47:00| Telecompaper Headlines
(Telecompaper) Argentina's federal telecommunications regulator AFTIC has declared that media conglomerate Clarin's proposed acquisition of a 49 percent stake in Nextel Argentina is illegal because Clarin failed to seek the required approvals. "The board decided that the operation carried out on 14 September 2015, by which Nextel Communications Argentina sold 49 percent of its capital, violates article 13 of law no. 27078 because it was done without previous authorisation," said AFTIC in a statement. The regulator's decision comes after Clarin announced that it had reached an agreement with Nextel Argentina's parent company NII Holdings to acquire a 49 percent stake in the unit, with an option to purchase the remaining 51 percent.
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Category:Telecommunications