Company: TCMFF
Filing Date: 2025-08-12
Form Type: 6-K
Source: 0001104659-25-076939
Chunk: 52

Company: TELECOM ARGENTINA SA
Filing Date: 2025-08-12
Form: 6-K
Chunk 52
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 and liabilities
and (ii) a $1,078 million increase in cash outflows used to pay income tax.

The increase in net cash payments related to changes
in assets and liabilities was mainly due to an increase in payments of accounts payable and other tax charges, primarily due to cancellations
of foreign currency debts partially offset by an increase from cash flows related to trade receivables.

Cash flows from operating activities contain $72,064
million corresponding to the consolidation of TMA as of June 30, 2025.

Cash flows used in investing activities were $1,509,274 million and $326,252 million in 1H25 and 1H24, respectively.

In 1H25, cash flows used
in investing activities mainly included payments for acquisition of TMA, net of cash acquired of $1,140,955 million, payments for acquisitions
of PP&E and Intangible assets of $461,830 million and payments for investments not considered as cash and cash equivalents of $51,200
million, partially offset by proceeds from sale investments not considered as cash and cash equivalents of $127,846 million.

In 1H24, cash flows used
in investing activities mainly included payment for investments not considered as cash and cash equivalents of $266,159 million and payments
for acquisitions of PP&E and Intangible assets of $263,692 million, partially offset by proceeds from sale investments not considered
as cash and cash equivalents of $204,561 million.

Cash flows used in investing activities contain $54,292 million corresponding to the consolidation of TMA as of June 30, 2025.

Cash flows from (used in) financing activities were $779,550 million and $(221,674) million in 1H25 and 1H24, respectively.

In 1H25, cash flows from
financing activities included proceeds from borrowings for $2,531,849 million, partially offset by payments for borrowings, interest,
DFI and related expenses and leases liabilities for $1,741,152 million and dividend payments for $11,147 million.

In 1H24, cash flows used in financing activities
included payments for borrowings, interest, DFI and related expenses and leases liabilities for $578,885 million and dividend payments
for $11,053 million, partially offset by proceeds from borrowings for $368,264 million.

Cash flows from (used in) financing activities contain $(28,674) million corresponding to the consolidation