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UPDATE 1-Argentina regulator nixes telecoms sale to Fintech
October 15, 2015 / 8:28 PM / 2 years ago

UPDATE 1-Argentina regulator nixes telecoms sale to Fintech

(Adds Telecom Argentina reaction)

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.

A Telecom Argentina official attending a business conference in the coastal town of Mar del Plata declined to comment on the regulator’s announcement.

Sofora is owned by Telecom Italia. (Reporting by Nicolas Misculin; Additional reporting by Jorge Otaola; Writing by Richard Lough; Editing by Chris Reese and Alan Crosby)

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