Tuesday, April 15, 2025

Telecom-Telefónica, Chapter II: The Battle for Approval

The deadlines are now running for regulators Enacom and the National Commission for the Defense of Competition to issue their respective reports on the transaction. Three key aspects are under discussion: the impact on market competition, spectrum accumulation, and the execution of the commercial operation on February 24 itself.

On March 5, the countdown began for the approval of Telecom’s acquisition of Telefónica Móviles Argentina. On that day, Telecom submitted the necessary filings notifying the purchase of all shares of the subsidiary to the National Communications Entity (Enacom in Spanish) and the National Commission for the Defense of Competition (CNDC in Spanish). The countdown is 90 days for Enacom and 45 days for the CNDC, following a particularly intense March filled with criticism of the deal and even a government “narrative” that cast doubt on the integration of the two companies.

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