Company: TCMFF
Filing Date: 2025-05-19
Form Type: 6-K
Source: 0001104659-25-050264
Chunk: 15

Company: TELECOM ARGENTINA SA
Filing Date: 2025-05-19
Form: 6-K
Chunk 15
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OM sets prices for wholesale local interconnection services. During 2024,
three mobile operators offered nationwide service: Telecom Argentina S.A., TMA and AMX Argentina (commercially known as Claro).

Internet Services:

The main competitors in the
internet service market in Argentina are Telecom Argentina S.A., Claro, IPlan and Telecentro S.A. (providing a triple-play offer),
among others.

Television Services:

The paid television industry
is highly fragmented. TMA competitors are Telecom Argentina S.A., Telecentro S.A. (which is focused in the Buenos Aires Metropolitan Area),
DirecTV Argentina S.A. (satellite television) and more recently Claro. TMA also considers OTT internet video system providers such as
Netflix, Disney+, Prime Video and On Video, among others, as competitors.

Among paid television systems, competition is
driven primarily by price, programming services offered, customer satisfaction and the quality of the system.

Taxes and other litigation

Local municipalities in the
areas where TMA operates have implemented regulations imposing various taxes and fees related to the deployment of infrastructure, equipment,
and the expansion of both fixed-line and mobile networks. Additionally, local and federal tax authorities have brought an increasing number
of claims against us. We disagree with these proceedings and are generally contesting them.

Furthermore, evolving legal
precedents in labor and pension matters have led to an increase in claims from current and former employees, as well as increased demands
from contractor and subcontractor employees alleging joint liability. TMA cannot guarantee that existing laws and regulations—whether
general or specifically related to the telecommunications industry—will not become more restrictive, or that ongoing claims will
be resolved in TMA’s favor, or that future legal and regulatory changes will not negatively impact TMA’s business, financial
condition, operating results, and cash flows.

For more information on these
claims and proceedings, including approximate amounts, see note 14 to the TMA Financial Statements included herein.

| (A) | Results of Operations |

For 2024, TMA reported a
net loss of P$960,239 million, compared to a net loss of P$268,665 million in 2023. The net loss for 2024 increased by P$691,574 million
compared to 2023.

Revenues in 2024 amounted to P$2,511,381 million, a 0.6% or P$16,263 million decrease as compared to P