Telecom Italia and France Telecom have agreed to increase their stakes from 32.5 percent each to 50 percent each in Nortel Inversora, the holding company that owns 60 percent of Telecom Argentina.
The companies paid $265 million each for their increased shareholdings. The other 40 percent of Telecom is owned 30 percent by the public and 10 percent by employees.
Telecom Argentina, one of the country’s two wireline operators, owns 50 percent of cellular operator Miniphone in Buenos Aires, 100 percent of cellular operator Personal in the interior of the country as well as a newly acquired national personal communications services license.
