Company: TCMFF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001104659-25-019133
Chunk: 363

Company: TELECOM ARGENTINA SA
Filing Date: 2025-02-28
Form: 20-F
Item: Item 18
Chunk 363
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)
Add: goodwill                                                               4,404                         4,922
Total                                                                       7,283                         8,140

(1)   PP&amp;E: For the determination of fair values, the following approaches were used: a) the market approach (comparative sales) for real estate and vehicles (fixed assets that have a second-hand market) and b) the cost approach (replacement cost new of the identified assets adjusted for physical deterioration, functional and economic obsolescence) for the rest of the fixed assets.
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(2)   Correspond to the Customer relationship, for the determination of fair values, were used the income approach (discounted cash flow method).
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F-93

TELECOM ARGENTINA S.A.

Revenue and profit contribution
The acquired business contributed revenues of $7,208 million and net income of $331 million for the period from September 1, 2024 to December 31, 2024.
2)  Naperville and Saturn 
On October 8, 2023, our subsidiary Televisión Dirigida entered into two call option agreements with the shareholder of Naperville and Saturn (companies incorporated in the state of Delaware, USA), for 100% of their equity interests and votingl rights. These companies have a shareholding that represents approximately 76.63% and 23.37%, respectively, of the share capital and voting rights of Manda S.A., which in turn is the sole shareholder and owns 100% of RISSAU’s share capital and votes, an operating company whose main activity is the installation and operation of broadcasting services.
Additionally, Televisión Dirigida entered into one call option agreement with the minority shareholders of Manda S.A for 100% of their equity interests and voting rights in such company, which represent 0.007%. 
The agreed prices amount to an aggregate of approximately US$42 million, of which Televisión Dirigida paid an option premium of US$5 million ($1,750 million stated at the exchange rate prevailing on the transaction date). 
2.1)  Exercise call option Naperville
On May 20, 2024, the subsidiary Televisión Dirigida partially exercised the call option to purchase 51% of Naperville. 
The transaction price amounted to US$ 16.4 million ($14,583 million stated at the exchange rate prevailing on the transaction date), which shall be settled as follows: a