As required by the agreements signed on October 24, 2014 regarding the acquisition by Fintech of the stakes held by the Telecom Italia group in Telecom Argentina, yesterday the parties completed the first phase of the transaction.
Thus the minority stake in Sofora, equal to 17% held by Telecom Italia International, was transferred to Fintech, with a total proceeds of 215,7 million dollars. Fintech then subscribed the bond issued by Telecom Italia International, for an equivalent value of 600,6 million dollars, and pledged it in favor of Telecom Italia and Telecom Italia International.
