Home › Bidder preparing USD 1.1 bln bid for Telecom Argentina stake
 

Keywords :   


Bidder preparing USD 1.1 bln bid for Telecom Argentina stake

2016-02-29 08:37:00| Telecompaper Headlines

(Telecompaper) Argentine businessman Carlos Newbery is preparing to make a bid for Telecom Italia's stake in Telecom Argentina, reports Bloomberg, adding that Newbury is ready to offer 10 percent more than US-backed investment fund Fintech. "The valuation and potential of the company is higher than what has been offered and we are ready to improve it up to USD 1.1 billion," Newbery told Bloomberg. Although Telecom Italia reached a deal back in 2013 to sell its 68 percent controlling stake in Telecom Argentina holding company Sofora to Fintech for USD 960 million, it has so far only been able to divest an initial 17 percent share. 

Tags: argentina usd bid telecom

Category:Telecommunications

Latest from this category

All news
»
06.11Hurricane Rafael Update Statement
06.11Summary for Hurricane Rafael (AT3/AL182024)
06.11Warning millions will struggle to pay water bill rises
06.11Atlantic Tropical Weather Outlook
06.11Tropical Storm Rafael Graphics
06.11Tropical Storm Rafael Public Advisory Number 9A
06.11Summary for Tropical Storm Rafael (AT3/AL182024)
06.11Eastern North Pacific Tropical Weather Outlook
More »