Company: TCMFF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001104659-25-019133
Chunk: 26

Company: TELECOM ARGENTINA SA
Filing Date: 2025-02-28
Form: 20-F
Item: Item 3
Chunk 26
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, such legislation negatively impacts the obligations that we and our competitors assumed.

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PART I - ITEM 3 KEY INFORMATION   TELECOM ARGENTINA S.A.
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In relation to Fintech Services, we are subject to BCRA regulation for all services provided by Personal Pay. Any failure to comply with current regulations could generate regulatory exposures that entail sanctions and reputational exposures for the business.
We may also be subject to additional and unexpected governmental regulations in the future. For more information on the regulatory framework, see “Item 4—Information on the Company—Regulatory Authorities and Framework.”
Additionally, SCI Resolution No. 50/10 approved certain rules governing pay television services. These rules provide that cable television operators must apply a formula to calculate their monthly subscription prices. The price arising from the application of the formula was to be informed to the Office of Business Loyalty (Dirección de Lealtad Comercial), requiring cable television operators to adjust such amount semi-annually and inform the result of such adjustment to that Office. The Company challenged Resolution No. 50/10 and requested the suspension of its effects and its nullity. Over the years there have been rulings, appeals and regulations related to Resolution No. 50/10. On November 15, 2024, Resolution No. 50/10 was repealed by Resolution No. 433/2024 of the Ministry of Industry and Commerce. The Company, together with its legal advisors, is evaluating the impact of this repeal on the respective judicial situation.
We face substantial and increasing competition in the Argentine fixed and mobile telephony, cable television, internet and Fintech Services businesses.
The fixed and mobile telephony, cable television, internet and Fintech Services businesses in Argentina are competitive. Our competitors may consummate transactions that result in further consolidation and convergence. Therefore, we may lose a portion of our market share which may create additional risks and adversely impact on our financial condition and results of operations. See “—We may become subject to burdensome regulations, ordinances and laws affecting the services we offer which could adversely affect our operations.”
We compete with other cable television operators that have built networks in the areas in which we operate, providers of other pay television services, including direct broadcasting, direct-to-home satellite and multi-channel multi-point distribution system services, licensed suppliers of Basic Telephone Services and cooperative entities providing utility services and also with free broadcasting services which are currently available to the Argentine population in certain areas from four privately-owned television networks and their local affiliates and one state