Company: TCMFF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001104659-25-019133
Chunk: 1

Company: TELECOM ARGENTINA SA
Filing Date: 2025-02-28
Form: 20-F
Item: Item 3
Chunk 1
---
ruption, anti-bribery and Anti - Money Laundering Laws and may be subject to compliance with economic and trade sanctions programs. Our failure to comply with these laws and programs could result in penalties, which could harm our reputation and have an adverse effect on our business, financial condition and results of operations.
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

●   Public health crises and measures that might be implemented by the Argentine government in response to them could have an adverse effect on our business operations.
------------------------------------------------------------------------------------------------------------------------------------------------------------------------

●   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.
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Risks Relating to Telecom and its Operations

●   We may become subject to burdensome regulations, ordinances and laws affecting the services we offer which could adversely affect our operations.
-----------------------------------------------------------------------------------------------------------------------------------------------------

●   We face substantial and increasing competition in the Argentine fixed and mobile telephony, cable television, internet and Fintech Services businesses.
-----------------------------------------------------------------------------------------------------------------------------------------------------------

●   Technological advances and replacement of our equipment may require us to make significant expenditures to maintain and improve the competitiveness of the services we offer.
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

●   The intellectual property used by us, our suppliers or service providers may infringe on intellectual property rights owned by others.
------------------------------------------------------------------------------------------------------------------------------------------

●   The media industry is a dynamic and evolving industry, and if it does not develop and expand as we currently expect, our results and operations relating to our cable television and internet businesses may suffer.
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

●   Our revenues may be adversely affected by an increase in churn rates, with respect to mobile telephony, cable television and internet services, or reductions in fixed telephony lines in service, with respect to fixed telephony services.
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

●   Actual or perceived health risks or other problems relating to mobile handsets or transmission masts could lead to litigation or decreased mobile communications usage.
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------

●   Our operations and financial condition could be affected by future union negotiations, Argentine labor regulations and governmental measures requiring private companies to increase salaries or otherwise provide workers with additional benefits.
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

●   We are or may be involved in legal and regulatory proceedings that could result in unfavorable decisions and financial penalties for us.
--------------------------------------------------------------------------------------------------------------------------------------------

●   A cyberattack could adversely affect our business, financial condition, results of operations and cash flow.
----------------------------------------------------------------------------------------------------------------

●   Artificial intelligence presents material risks that may result in reputational harm, competitive harm or legal liability and, in