Company: TCMFF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001104659-25-019133
Chunk: 53

Company: TELECOM ARGENTINA SA
Filing Date: 2025-02-28
Form: 20-F
Item: Item 4
Chunk 53
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 Both companies provide ICT internet Access and cable television services in some cities along the province of Buenos Aires.
As a result of the share exchange and transfer agreement, Telecom Argentina owns 100% of its current subsidiary TSMA (previous direct/indirect shareholding and voting rights were 50.1%), and EHM owns 100% of Ver TV S.A., in which Telecom Argentina held 49%. In addition to the share exchange, the Company received US$5.5 million (US$2.5 million at the signing of the agreement and US$3 million payable in seven semi-annual installments) for the transfer of shares. 
Exercise of the call option of Naperville and Saturn 
On May 20, 2024, the subsidiary Televisión Dirigida partially exercised the call option to acquire 51% of Naperville (which owns shares representing 76.63% of the share capital and votes of Manda, which in turn is the sole shareholder and owns 100% of the share capital and votes of RISSAU, an operating company whose main activity is the installation and operation of broadcasting services). 
In addition, on the same date, Televisión Dirigida also exercised the call option for US$3,108 to acquire all the shares held by the minority shareholders of Manda, representing 0.007% of the share capital and votes of said company.
On July 17, 2024, Televisión Dirigida exercised the call option to purchase the remaining shares, representing 49% of Naperville for US$15.8 million.
Also, on the same date, Televisión Dirigida exercised the call option to purchase 100% of Saturn, the company that owns the remaining 23.37% of Manda, for US$9.8 million (including US$1.2 million premium for the Saturn call option, which Televisión Dirigida retained and deducted from said price).
As a result of these acquisitions for a total amount of US$42 million, Televisión Dirigida owns 100% of Naperville, Saturn, Manda and RISSAU as of December 31, 2024.
Others
On August 19, 2024, our subsidiary Micro Fintech Holding established the company CrediPay in the Republic of Paraguay (with a 67.5% ownership). Credipay’s corporate purpose is the granting of loans, financing, purchase of goods and services, as well