Company: TCMFF
Filing Date: 2025-05-19
Form Type: 6-K
Source: 0001104659-25-050264
Chunk: 38

Company: TELECOM ARGENTINA SA
Filing Date: 2025-05-19
Form: 6-K
Chunk 38
---
"), and Telefónica
Móviles Argentina Holding S.A. ("TMAH") in a transaction among entities under common control. After this reorganization,
and following several capital increases, TMA increased its interest in Telefónica de Argentina S.A. ("TASA"), holding,
as of December 31, 2023, a 79.06% interest in TASA's capital until its merger.

In March 2023, the merger process between
TMA and TASA began, with the merger having as effective date January 1, 2024.

As of the effective date of the merger, TMA continued
with TASA's activities, with the corresponding operational, accounting and tax effects. As of that date, all assets and liabilities, including
registered assets, rights, and obligations of TASA, as the absorbed company, were incorporated into TMA’s assets, as the absorbing
and continuing company, along with the transfer of all human resources (see Note 21).

On January 23, 2024, the merger was filed
for registration with the IGJ, and on March 4, 2024, the merger was finally registered. As a result of the merger, the absorbed company
was dissolved without liquidation, and the shares representing its capital stock were canceled.

| 2. | Basis of presentation and accounting policies used in the preparation of the Financial Statements |

These Financial Statements have been prepared
in accordance with IFRS Accounting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”),
based on the provisions of Technical Resolution (“TR”) No. 26, as amended by TR No. 29, 38 and 43, and represent
the full, explicit and unreserved adoption of the aforementioned international standards.

2.1 Basis of Presentation

a) Functional and presentation currency

The functional currency of TMA is the Argentine
peso (“Peso” or “ARS”). Therefore, all balances and transactions denominated in currencies other than the Peso
are considered foreign currency transactions.

The amounts presented in these Financial Statements
are expressed in Pesos unless otherwise indicated.

b) The Financial Statements have been restated
to reflect the effects of inflation

International Accounting Standard No. 29
“Financial Reporting in Hyperinflationary Economies” (“IAS 29”) requires that the financial statements of an entity
whose functional currency is that of a hyperinflationary economy, whether they are based on a historical