Company: TCMFF
Filing Date: 2025-08-12
Form Type: 6-K
Source: 0001104659-25-076939
Chunk: 28

Company: TELECOM ARGENTINA SA
Filing Date: 2025-08-12
Form: 6-K
Chunk 28
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 was appointed. On June 5, 2025, the
Company was notified of the decision of the Chamber III of the Federal Court of Appeals on Civil and Commercial Matters, which resolved
to grant the Company’s appeal, and further ordering the Secretary of Industry and Commerce to refrain from taking any measure contrary
to such suspension.

In addition, on June 19, 2025, the Company was
notified of a Resolution of the Secretary of Industry and Commerce, through which, the Company was notified of the technical report issued
by the CNDC, which constitutes the objection report under Article 14 of Law No. 27,442.

This report does not represent a final resolution
or the imposition of sanctions. Instead, it represents a procedural stage affording the parties the opportunity to exercise their right
of defense, submit responses, or propose commitments to mitigate possible anticompetitive consequences.

Pursuant to the aforementioned resolution, the
Secretary of Industry and Commerce granted the Company 15 days to submit any comments it deems appropriate regarding the preliminary objection
report issued by the CNDC; and/or propose remedies it deems appropriate to mitigate the competitive effects outlined in the objection
report. The Secretary also called for a special hearing to consider any such measures proposed by the Company, with the date to be set
by the CNDC in due course.

The Company believes that the objection report
was issued and notified prematurely, at too early a stage of the process, without all the necessary and/or relevant information and before
all the relevant procedures set forth by Law No. 27,442 were completed. The Company does not agree with the preliminary conclusions expressed
in the objection report and has focused on analyzing all CNDC statements therein and submitting all presentations and technical data it
deemed appropriate in response to the report (including information incorporated into Form F2, which was submitted by the Company recently
and is pending analysis by the CNDC).

On August 5, 2025, the Company duly and timely
responded to the Preliminary Objection Report issued by the CNDC. Together with that submission, and without this being construed in any
way as an acknowledgment that the transaction raises an antitrust concern, the Company expressed its willingness to consider potential
commitments to address the provisional concerns outlined in the Preliminary Objection Report, which, if accepted by the CNDC and implemented
by the Company, could constitute feasible remedies.

The Company believes that, under reasonable and
normal market conditions, none of