Telecom Argentina acquired Telefónica’s operations in Argentina for $1.245 billion, gaining extensive telecommunications services. The financing involved a $1.17 billion syndicated loan and a bilateral loan from the Industrial and Commercial Bank of China. This acquisition, finalized on February 24, 2025, aligns with Telecom Argentina’s strategy to enhance infrastructure and service quality.
Telecom Argentina S.A. recently completed the acquisition of Telefónica S.A.’s operations in Argentina for approximately $1.245 billion. This deal grants Telecom Argentina access to a comprehensive suite of services, including mobile and fixed telephone, broadband, and video services, which are available nationwide. The transaction was both announced and finalized on February 24, 2025.
The acquisition was financed through a syndicated term loan totaling $1.17 billion, with major financial institutions involved, such as Banco Bilbao Vizcaya Argentaria S.A., Deutsche Bank Ag, London Branch, and Banco Santander S.A. Additionally, Telecom Argentina arranged a bilateral term loan with Industrial and Commercial Bank of China (Argentina) S.A.U. Following the closure, the company will submit regulatory filings to secure approvals from Argentina’s antitrust and telecommunications authorities.
Since 2017, Telecom Argentina has heavily invested over $6 billion in enhancing infrastructure, aiming to improve the quality and coverage of services across Argentina, Paraguay, and Uruguay. With this strategic acquisition, the company intends to fast-track the expansion of fiber optics and implement 5G mobile technology throughout Argentina.
Telecom Argentina has made a significant investment in enhancing its service offerings through the $1.245 billion acquisition of Telefónica’s operations. This move positions the company for increased network capability and service deployment, seeking regulatory approval to ensure compliance moving forward. Continuing its trend of substantial investment, Telecom Argentina aims to enhance connectivity with robust infrastructure development across the region.
Original Source: www.clearygottlieb.com
