BUENOS AIRES, Argentina-France Telecom and Telecom Italia said they completed their joint acquisition of the 35-percent stake in Nortel Inversora S.A. in Argentina, previously held by Perez Companc and JP Morgan.
The companies now own all (50 percent each) of Nortel’s ordinary shares. Nortel is the holding company that controls 60 percent of Telecom Argentina, which France Telecom and Telecom Italia now own.
Perez Companc received $379 million and JP Morgan received $151 million in the transaction, said the companies.
