The telecommunications company, Telecom Argentina, said that Javier Milei’s government did not formally notify them of the provisional suspension of the Argentine subsidiary of the Spanish Telefónica group.
“Before the recent communication issued by the president of the President of the Nation in relation to the preventive measure issued around the acquisition of Telefónica, Telecom states that it has not been formally notified of this resolution “the company reported in a statement.
The Ministry of Industry and Commerce, which depends on the Argentine Ministry of Economy, decided on Friday to suspend “the effects of the purchase of Telefónica by Telecom” because would generate a monopoly of the sector.
According to the Executive Power, the acquisition, for which Telecom paid 1,245 million dollars, would concentrate 61% of the mobile phone market69 % of fixed telephony and in some areas of the country would remain with 80 % of the residential Internet service.
“The company reiterates its commitment With respect for current regulations and established procedures, and awaits due official communication to evaluate the scope of the measure and respond in a timely manner within the corresponding framework, “the company added.
The National Communications Entity (ENACOM), the telecommunications regulator in Argentina, had arranged in February a period of 30 days for Telecom notified to the operation regulator, while the agency had 90 days to issue an opinion.
Several technical areas within the ENACOM will take part in a process, which will involve evaluating the licenses and records of the services of the two companies, background of both societies and if the buying company will not exceed the maximum limits of possession of the radio spectrum provided in the Argentine regulatory framework.
“In this sense, Telecom ratifies your will to collaborate With the competent agencies in the analysis of the operation, with the objective of guaranteeing a transparent process and in full line with international standards and free competition, “they said in the press part.
Telecom Argentina has how main shareholders to Cablevisión Holding (company controlled by the Clarín Group) and to the Fintech Telecom Fund (controlled by Mexican businessman David Martínez).
Telecom and Telefónica dominate the Argentine telecommunications market since at the end of the 90s of the last century the then Carlos Menem government (1989-1999) privatized the state telephone company and divided the country into two regions to grant services to these two companies.
“Timely, and once the formal notification has been received, Telecom will provide its positioning Regarding the measure and the next steps to follow, “they concluded.
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