Post by ukipa on Nov 14, 2013 18:23:57 GMT 4
Martinez Buys Telecom Argentina Control for $960 Million
Mexican billionaire David Martinez agreed to acquire a stake in Telecom Argentina SA in a $960 million deal, pitting him against the mobile-phone business of Carlos Slim in South America’s second-biggest economy.
Fintech Group, Martinez’s investment firm, will pay $860 million for Telecom Italia SpA (TIT)’s 68 percent holding in the company that controls Telecom Argentina, as well as a direct minority stake, plus $100 million for agreements including some technical services for the Argentine carrier, Telecom Italia said today. Fintech confirmed the deal in a separate release.
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www.bloomberg.com/news/2013-11-14/telecom-italia-agrees-to-sell-argentina-unit-for-960-million.html