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Tag: argentina
AFTIC rejects sale of Telecom Argentina to Fintech
2015-10-16 08:48:00| Telecompaper Headlines
(Telecompaper) The board of Argentina's federal telecommunications regulator AFTIC has unanimously rejected the sale of a controlling stake in Telecom Argentina owned by Telecom Italia to US-backed investment fund Fintech on the grounds that the buyer doesn't have the necessary qualifications to operate a telecommunications company in the country. "The board considers that (Fintech) is not in a position to operate and take control Telecom Argentina's services and infrastructure. Fintech has demonstrated neither experience nor expertise," said AFTIC in a statement. Telecom Italia had agreed to sell its 68 percent controlling stake in Telecom Argentina holding company Sofora to Fintech for USD 960 million at the end of 2013 but the deal has been held back by the ongoing financial crisis in Argentina as well as delays in securing regulatory approval.
Tags: sale
argentina
telecom
rejects
Regulator blocks Telecom Argentina sale, Telecom Italia says appeal planned
2015-10-16 02:00:00| Total Telecom industry news
AFTIC rules that Fintech lacks the experience to run Telecom Argentina; Telecom Italia insists it has plenty of time to push the deal through.
Tags: sale
italia
argentina
planned
Noble Energy accused by Argentina of illegally operating in Falkland Islands
2015-10-10 10:10:27| Energy - Topix.net
Argentina launches fresh attacks against Noble Energy , accusing the company and others of operating illegally in the Falkland Islands, even as the country does not have sovereignty over the Falklands. In a resolution published this week, Argentina's energy ministry said it warned the foreign ministry and prosecutors that it believes NBL's operations are illegal so they can take whatever legal actions they deem necessary.
Tags: energy
operating
argentina
islands
Argentina industry needs $600m to modernise manufacturing
2015-10-02 19:35:00| Daily apparel & textile news and comment - from just-style.com
Argentina's textile and apparel industry is facing a flat 2015 amid falling consumption, exports and profits - but the new boss of industry body Camara Industrial Argentina De La Indumentaria (CIAI) remains confident this month's presidential elections will help change its course.
Tags: industry
argentina
manufacturing
600m
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.
Tags: argentina
blocks
acquisition
regulator
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