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Argentina's antitrust agency to determine impact of Telefonica's purchase of stake in Telecom.(ARGENTINA)
Latin America Telecom, November, 2007
The antitrust agency of Argentina has appointed observers to assess the impact of Spain-based Telefonica's buyout of an indirect holding in Telecom Italia on the domestic market. The Italian and Spanish companies currently operate the largest telephone, mobile-phone and Internet firms: Telecom Argentina and Telefonica.
Planning minister Julio De Vido said Argentina's antimonopoly agency has directed observers to determine effects of the deal on public interest. Earlier in 2007, Telefonica, Italybased bank Intesa Sanpaolo, merchant bank Mediobanca, and insurer Generali signed an agreement to purchase an 18 percent stake in Telecom Italia from Pirelli & Co.
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