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REFILE-Argentina regulator nixes telecoms sale to Fintech
October 15, 2015 / 7:53 PM / 2 years ago

REFILE-Argentina regulator nixes telecoms sale to Fintech

(Corrects Telecom Italia company stock symbol in final paragraph)

BUENOS AIRES, Oct 15 (Reuters) - Argentina’s telecoms regulator on Thursday nixed the sale of a 68 percent stake in Telecom Argentina holding company Sofora to investment firm Fintech, the regulator AFTIC said in a statement.

“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,” AFTIC said.

Sofora is owned by Telecom Italia.

Reporting by Nicolas Misculin; Writing by Richard Lough; Editing by Chris Reese

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