Company: TCMFF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001104659-25-019133
Chunk: 24

Company: TELECOM ARGENTINA SA
Filing Date: 2025-02-28
Form: 20-F
Item: Item 3
Chunk 24
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 US$1.245 billion (including a net cash position held by the acquired company), financed through two loans totaling US$1.170 billion. The transaction is subject to post-closing review by regulators, including the ENACOM and the CNDC to determine its compliance with applicable regulatory and antitrust requirements. On the same day that we announced the acquisition, the Argentine government issued an official statement (Comunicado Oficial Número 83), expressing that, if the transaction is deemed to create a monopoly, the Argentine government will take all necessary measures to prevent it.
There can be no assurance regarding the consequences of the post-closing review of regulatory authorities. If regulatory authorities impose conditions or require divestitures (which may include divestiture of our interest in all or certain assets of Telefónica Móviles), it could have a material adverse impact on our business strategy, financial condition, and future growth. Additionally, complying with 

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PART I - ITEM 3 KEY INFORMATION   TELECOM ARGENTINA S.A.
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potential regulatory requirements, including the sale of assets or operational restrictions, could delay the realization of anticipated benefits from the acquisition and increase associated costs.
For more information on the recent acquisition of Telefónica Móviles, see “Item 4—Information on the Company—Recent Developments—Acquisition of Telefónica Móviles.”
Risks Relating to Telecom and its Operations
We may become subject to burdensome regulations, ordinances and laws affecting the services we offer which could adversely affect our operations.
Activities in the fixed and mobile telephony, cable television and internet businesses are subject to risks associated with the adoption and implementation of laws and governmental regulations that reflect changing governmental policies over time. The Argentine government has historically exercised significant influence over the economy, and telecommunications companies have operated in a highly regulated environment. In the past, the Argentine government promulgated numerous, far-reaching regulations affecting the economy and telecommunications companies. In addition, local municipalities in the regions where we operate have also introduced regulations and proposed various taxes and fees for the installation of infrastructure, equipment and expansion of fixed line and mobile networks. For example, municipalities usually restrict areas where antennas may be deployed, negatively impacting our mobile service coverage, which in turn affects the quality of our services. Municipal and provincial tax authorities have also brought an increasing number of claims against us, which we are replying. If changes to existing laws and regulations lead to negative consequences for the Company, our business, financial condition, results of