Company: TCMFF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001104659-25-019133
Chunk: 57

Company: TELECOM ARGENTINA SA
Filing Date: 2025-02-28
Form: 20-F
Item: Item 4
Chunk 57
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”, which are calculated based on contractual definitions, on a quarterly basis, along with the presentation of the Company’s financial statements.
This transaction qualifies as a permitted acquisition under our existing loan agreements mentioned under “Item 5—Operating and Financial Review and Prospects—Liquidity and Capital Resources—Liquidity—Compliance with covenants”. As of the acquisition date, the Company has calculated and reported to its lenders its EBITDA/Interest Net ratio and Net Debt/EBITDA ratio on both an actual and pro forma basis for these transactions, in accordance with the methodology established in such agreements, ensuring compliance with the established limits as well as with all other covenants set forth in our existing loan agreements.
As of the date of this Annual Report, the transaction was duly notified to the CNV and will be notified to the CNDC and ENACOM in order to submit the acquisition to the review of these Authorities. See “Item 3—Key Information—Risk Factors—Risks Relating to Argentina— There can be no assurance regarding the consequences of the post-closing review of Argentine regulatory authorities in connection with our acquisition of Telefónica Móviles”.
For additional information about the acquisition of Telefónica Móviles, see Note 29 to our Consolidated Financial Statements.
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PART I - ITEM 4 INFORMATION ON THE COMPANY   TELECOM ARGENTINA S.A.
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THE BUSINESS
The Executive Committee and the CEO have a strategic and operational vision of Telecom as a single business unit in Argentina that is consistent with the current regulatory context of the converged ICT services industry. The Executive Committee and the CEO receive periodic economic and financial information from Telecom Argentina and its subsidiaries (in currency of the transaction’s dates) treating all operations as a single segment. Based on this information, they assess the evolution of business as a single unit of generation of results, managing resources accordingly to achieve the objectives. Under applicable accounting standards (provided by IFRS Accounting Standards 8), it was defined that the Company has a single segment of operations in Argentina.
Additionally, Telecom, through Micro Sistemas, develops activities in the fintech industry in Argentina. Telecom also carries out activities abroad (Paraguay, United States, Uruguay and Chile). The operations that Telecom develops through Micro Sistemas, and those developed abroad, are not analyzed as a separate segment by the Executive Committee and the CEO, considering that they are not considered as individually significant. These operations do not meet the aggregation criteria established