Company: TCMFF
Filing Date: 2025-08-12
Form Type: 6-K
Source: 0001104659-25-076939
Chunk: 60

Company: TELECOM ARGENTINA SA
Filing Date: 2025-08-12
Form: 6-K
Chunk 60
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 incipient improvement in investor confidence,
the Company continued to execute its roadmap focused on sustainable growth.

With a comprehensive service offering and an active
investment policy, Telecom advanced in the expansion and modernization of its infrastructure, supporting the evolution of digital demand
with a focus on efficiency, quality, and technological capacity.

One of the most significant milestones during
the first half of the year was the acquisition of Telefónica Móviles Argentina (TMA), completed on February 24 for US$1,245
million. This transaction—one of the largest private infrastructure investments in the country during the year—reflects a
global trend of consolidation in the telecommunications industry. The Company is currently engaged in institutional dialogue with regulatory
authorities, supporting a technical and rigorous review in compliance with international standards and competition principles.

Another key highlight of the period was the international
issuance of Class 24 Notes made by Telecom in May and July, for an aggregate principal amount of US$1,000 million. This transaction enhances
the Company’s financial strength and supports its growth strategy, aligned with both current and future technological challenges.

The Company’s digital platforms continue
to expand. Flow has reaffirmed its leadership in the entertainment segment, adding features that enhance the customer experience—most
notably the launch of Flow+, a flexible entertainment offering that includes any two subscriptions from Pack Fútbol, HBO, Disney+
Premium, and Universal+, which may be switched every 30 days under a single plan. Personal Pay continues to strengthen its position within
the regional fintech ecosystem. In parallel, the Company maintains active operations in Paraguay, Uruguay, and Chile, supporting the
digital transformation of both consumers and businesses.

Telecom is at the forefront of implementing the
GSMA Open Gateway initiative, which promotes the opening of network capabilities through standardized APIs. Through its Openxpand platform,
the Company is fostering this new digital economy by developing solutions related to security, identity, and user experience across various
industries. This technological approach is complemented by a long-term vision that positions sustainability as a strategic pillar: energy
efficiency and the use of renewable energy, circular economy practices, and the development of digital talent are integral to the Company’s
ongoing commitment to responsible growth.

Looking ahead, Telecom will continue to support
the country’s digital transformation through investments aimed at strengthening infrastructure, driving technological innovation,
and expanding its service ecosystem in line with the evolution of the competitive landscape.

| Carlos                    
 Moltini                   |
| Chairman