Company: TCMFF
Filing Date: 2025-11-12
Form Type: 6-K
Source: 0001104659-25-110392
Chunk: 18

Company: TELECOM ARGENTINA SA
Filing Date: 2025-11-12
Form: 6-K
Chunk 18
---
 Transaction                           |               Nine 
 month period ended 
      September 30, 
               2025 |    2024 |
|:----------------------|:--------------------------------------|-------------------:|--------:|
|                       |                                       |      Profit (loss) |         |
|                       |                                       |           Revenues |         |
| Other related parties | Services and advertising revenues     |              4,747 |   5,331 |
|                       |                                       |              4,747 |   5,331 |
|                       |                                       |          Operating 
              costs |         |
| Other related parties | Programming costs                     |            -33,514 | -40,423 |
| Other related parties | Editing and distribution of magazines |             -2,895 |  -3,998 |
| Other related parties | Advisory services                     |             -8,650 |  -4,839 |
| Other related parties | Advertising purchases                 |             -2,212 |  -1,689 |
| Other related parties | Other purchases and commissions       |             -7,968 |  -4,756 |
|                       |                                       |            -55,239 | -55,705 |

The transactions discussed above were made on an
arm length transaction basis. When Telecom’s transactions represented more than 1% of its total shareholders’ equity, they
were approved according to Law No. 26,831, the Bylaws and the Executive Committees’ Faculties and Performance Regulation.

NOTE 16 – RECENT DEVELOPMENTS CORRESPONDING TO THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2025

| a) | Business                          
 combination: “Acquisition of TMA” |

On February 24, 2025 (the “Acquisition
Date”), the Company acquired 86,460,983,849 common shares of TMA, representing 99.999625% of its capital stock, acquiring control.
TMA is a company incorporated in the Republic of Argentina, providing mobile and fixed telephony, fixed broadband, and video services
on a national scale in Argentina.

The purpose of the acquisition was to enhance the
quality of existing services and to expand the coverage and capacity of both mobile and fixed networks.

The contractual purchase price for this transaction
was US$1,245 million ($1,539,116 million in current currency as of September 30, 2025), which was settled in the following manner:
(a) by assuming a debt owed