Company: TCMFF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001104659-25-019133
Chunk: 253

Company: TELECOM ARGENTINA SA
Filing Date: 2025-02-28
Form: 20-F
Item: Item 18
Chunk 253
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 and relevance of underlying data used in the estimate; and evaluating the adjustments to the Company’s market capitalization value made by management, including (i) the estimated fair value of other CGUs (ii) the estimated fair value for the net liabilities not subject to the impairment test and (iii) the estimated control premium based in the values observed in market transactions. Evaluating management’ adjustments to Company’s market capitalization value to determine the FVLCD of the CGU Telecom involved evaluating whether the significant judgements used by management were reasonable considering the consistency with: (i) valuation techniques generally used to determine fair values, (ii) external market data and (iii) evidence obtained in other areas of the audit. Professionals with specialized skill and knowledge were used to assist in the evaluation of the methodology used by management to determine the FVLCD and the reasonableness of the adjustments to the Company’s market capitalization value made by management.
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/s/ PRICE WATERHOUSE &amp; CO. S.R.L.   ​
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(Partner)                               ​
/s/ Alejandro Javier Rosa               ​
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Autonomous City of Buenos Aires, Argentina
February 28, 2025
We have served as the Company’s auditor since 2003.
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F-

TELECOM ARGENTINA S.A.

CONTENTS
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                                                                                                                          Page
Glossary of terms                                                                                                         F-6 
Consolidated Statements of Financial Position                                                                             F-  
Consolidated Income Statements                                                                                            F-  
Consolidated Statements of Comprehensive Income                                                                           F-  
Consolidated Statements of Changes in Equity                                                                              F-  
Consolidated Statements of Cash Flows                                                                                     F-  
Note 1 – Description of business and basis of preparation of the consolidated financial statements                        F-  
Note 2 – Regulatory framework                                                                                             F-21
Note 3 – Significant accounting policies                                                                                  F-27
Note 4 – Cash and cash equivalents and Investments. Additional information on the consolidated statements of cash flows   F-49
Note 5 – Trade receivables                                                                                                F-53
Note 6 – Other receivables                                                                                                F-  
Note 7 – Inventories                                                                                                      F-  
Note 8 – Goodwill                                                                                                         F-  
Note 9 – PP&amp;E                                                                                                         F-  
Note 10 – Intangible assets                                                                                               F-  
Note 11 – Rights of use assets                                                                                            F-  
Note 12 – Trade payables