je.st

Home › argentina

Tag: argentina

Telecom Italia to extend, amend Telecom Argentina deal

2014-09-29 08:35:00| Telecompaper Headlines

(Telecompaper) Telecom Italia has agreed to a request from US-backed investment fund Fintech to extend the deadline to close the USD 960 million sale of Telecom Argentina by another month, until 24 October, to buy more time to secure regulatory approval from local authorities. At the same time, the operator confirmed in a statement that its management would "evaluate and define with Fintech possible amendments to the sale process", without specifying what those amendments would be. The announcement came after a 7-hour board meeting held on 26 September, which was dominated not only by the company's options in Argentina but also by news of renewed foreign takeover interest. Just before the meeting, the head of Italian internet company ItaliaOnline, controlled by Egyptian tycoon Naguib Sawiris, said Sawiris was still interested in investing in Telecom Italia, despite having an offer rejected in 2012 to buy a stake for EUR 3 billion. "We have always been interested in Telecom. The interest is there and this is known," ItaliaOnline chairman Khaled Bishara told reporters in Milan. On the day before the meeting, a Bloomberg report claimed that US businessman Sol Trujillo, the former CEO of Australian operator Telstra, was seeking to raise EUR 7.5 billion to bid for a stake in Telecom Italia.

Tags: deal italia argentina extend

Telecom Italia to re-examine Argentina deal

2014-09-29 02:00:00| Total Telecom industry news

Italian incumbent pushes back deadline for completion of US$960 million sale of Telecom Argentina shares to late October.

Tags: deal italia argentina telecom

Argentina selects Abengoa for $147m power transmission project

2014-09-29 01:00:00| Power Technology

Argentinas Federal Electricity Board has chosen Abengoa, a firm providing technological solutions for sustainability in the energy sector, for the development of a new power transmission project, worth $147m.

Tags: power project argentina transmission

Telecom Italia delays board meeting on Argentina doubts

2014-09-25 09:55:00| Telecompaper Headlines

(Telecompaper) Telecom Italia has delayed its board meeting scheduled for 25 September until the following day as doubts persist as to whether the proposed sale of Telecom Argentina to US-backed investment fund Fintech will finally complete. A number of factors have complicated the deal, above all the ongoing financial crisis in Argentina and the delays in securing regulatory approval from local authorities. Argentina's competition watchdog told Reuters that it has not yet decided whether to approve the transaction, simply confirming that "the process is moving normally, but there is no news so far." Telecom Italia has already pushed back completion of the sale twice due to delays in receiving approval from Buenos Aires, and the Fintech group of Mexican businessman David Martinez has also sought to renegotiate the acquisition price of USD 960 million as a result of Argentina's technical default. Leading Telecom Italia shareholders such as Marco Fossati have criticised the terms of the deal, which was agreed under a previous board controlled by the Telco investor group led by Telefonica, which also operates in Argentina.

Tags: board meeting italia argentina