Company: TCMFF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001104659-25-019133
Chunk: 361

Company: TELECOM ARGENTINA SA
Filing Date: 2025-02-28
Form: 20-F
Item: Item 18
Chunk 361
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 and maximize shareholder value.
Telecom manages its capital structure and makes adjustments considering the business evolution and changes in the macroeconomic conditions.
To maintain or adjust the capital structure, the company may adjust the dividend payment to shareholders and the level of indebtedness.
The Company does not have to comply with regulatory capital adequacy requirements.
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The issues related to financial debt ratios see Note 13.
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NOTE 27 - BALANCES AND TRANSACTIONS WITH RELATED PARTIES 
a)  Controlling Company
CVH is the controlling company of Telecom Argentina, holding 28.16% of the capital stock of the Company. Additionally, both CVH and FTL, contributed to the Voting Trust (the Voting Trust Agreement was formalized on April 15, 2019), in accordance with the Shareholders´ Agreement, shares representing 10.92% of the capital of the Company so the shares subject to such agreement represent 21.84% of the total capital of the Company (the “Shares in Trust”).

F-

TELECOM ARGENTINA S.A.

According to the Voting Trust Agreement, the trustee appointed by CVH must vote the Shares in Trust as instructed or voted by CVH with respect to all issues except in respect of certain matters subject to veto under the Shareholders’ Agreement dated July 7, 2017.
b)  Balances with Related parties

●   Associates and Joint venture
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            ​               ​             ​             ​      ​        ​        ​   
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CURRENT ASSETS              ​   Kind of related party   ​    As of December 31,      
Trade receivables               ​                       2024          2023           
Ver TV                      ​   Associate               ​    —        ​            22
OPH                         ​   Joint venture           ​    46       ​            59
​                           ​   ​                       ​    46       ​            81
Other receivables           ​   ​                       ​    ​        ​             ​
La Capital Cable            ​   Associate               ​    —        ​           457
Ver TV                      ​   Associate               ​    —        ​             4
​                           ​   ​                       ​    —        ​           461
CURRENT LIABILITIES         ​   ​                       ​             ​              
Trade payables              ​   ​                       ​    ​        ​             ​
La Capital Cable            ​   Associate               ​    207      ​             7
TSMA                        ​