Company: TCMFF
Filing Date: 2025-08-12
Form Type: 6-K
Source: 0001104659-25-076939
Chunk: 29

Company: TELECOM ARGENTINA SA
Filing Date: 2025-08-12
Form: 6-K
Chunk 29
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 these proposed remedies would have a material adverse effect on the Company’s business or impair
its ability to service its financial obligations.

The Company will exercise all rights available
to it to review or challenge any decisions that it considers to be inconsistent with applicable Argentine law or the actual competitive
conditions in each relevant market and jurisdiction.

There can be no assurance regarding the outcome
of the post closing review of the Acquisition by regulatory authorities, even though, the Company, together with its legal advisors, has
strong arguments to support its position.

<div align='center'>F-32

TELECOM ARGENTINA S.A.</div>

| b) | Provisions of the Telecom Ordinary and Extraordinary 
 Shareholders’ meeting                                |

At the Ordinary and Extraordinary Shareholders’ Meeting held on April 25, 2025, the shareholders of Telecom decided, among other:

| (i) | To approve                                                                                                                                  
 the Board of Directors’ proposal stated in current currency as of June 30, 2025 using the National Consumer Price Index pursuant            
 to CNV Resolution No. 777/18 in connection with the Accumulated retained earnings as of December 31, 2024 for $1,165,244 million in current 
 currency as of June 30, 2025: (a) allocate the amount of $56,686 million in current currency as of June 30, 2025 to “Legal Reserve”;        
 (b) allocate the amount of $1,108,558 million in current currency as of June 30, 2025 to “Voluntary reserve to maintain the Company's       
 level of capital expenditures and its current solvency level”; (c) to reclassify the amount of $104,231 million in current currency         
 as of June 30, 2025 from “Voluntary reserve to maintain the Company's level of capital expenditures and its current solvency level”         
 and to be charged against the “Contributed Surplus”;                                                                                        |

| (ii) | to delegate                                                                                                                       
 on the Board of Directors the power to reverse, before December 31, 2025 the “Voluntary reserve to maintain the Company's level   
 of capital expenditures and its current solvency level” in an amount that allows distribution of dividends in cash or in non-cash 
 or any combination of both options, for up to the maximum amount of distribution of US$300 million.                               |

NOTE 17 – SUBSEQUENT EVENTS TO JUNE 30, 2025

After