Company: TCMFF
Filing Date: 2025-05-19
Form Type: 6-K
Source: 0001104659-25-050264
Chunk: 110

Company: TELECOM ARGENTINA SA
Filing Date: 2025-05-19
Form: 6-K
Chunk 110
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, 2008, Resolution S.C. No. 405/08
was issued, setting forth that until the implementation of the Universal Service Fiduciary Fund, telecommunications service providers
should deposit in the accounts opened under the terms of Section 1 of Resolution S.C. No. 80/07, an investment contribution
equivalent to 1% of the total revenues arising from the provision of the telecommunications services, net of all applicable taxes and
fees, without deducting any amounts that may eventually correspond in connection with the performance of Universal Service programs determined
by the Regulatory Authority, on the terms of the provisions of Section 2 of Decree No. 558/08 Section Article 6 of
the Universal Service Regulations approved by such Decree. The amounts were to be deposited by the relevant due date of the month following
the issuance of the Resolution. The obligation was retroactive to the effective date of Decree No. 558/08. Finally, the amounts that
telecommunications service providers may eventually be entitled to receive for performing Universal Service programs, whatever their nature,
accrued as from the effective date of Decree No. 558/08, would be paid out of the sums deposited in the Universal Service Fiduciary
Fund. TASA complied with the monthly obligation until April 2009, including the filing of affidavits to the CNC and has monthly deposited
the corresponding amounts on such account in a savings account with Banco de la Nación Argentina, as described above. At the closing
of these financial statements, the balance of such savings account is 2,803,185 pesos.

At the closing of these financial statements,
except for the previously mentioned balances, TMA has no balances in the accounts opened on the terms of Section 1 of Resolution
S.C. No. 80/07. However, TMA and its legal counsel believe that this situation cannot be considered a non-compliance that could have
a significant adverse impact on TMA’s results of operations or financial condition.

It should be considered that Decree No. 558/08
does not provide interpretations contrary to the right of service providers to offset any contribution owed against the sums allocated
to the provision of Universal Service programs. On the other hand, Resolution No. 405/08 of the S.C. provides that the deposit must
be made without deducting any amounts corresponding to the performance of Universal Service programs. TMA's legal advisors believe that
this last Resolution is illeg