*Argentina’s President Javier Milei has announced that his government will investigate whether a recent deal between Spanish telecommunications company Telefónica and local telecommunications firm Telecom Argentina breaches competition regulations. In a statement, the presidential office said that the country’s telecommunications regulator (Enacom) and competition authority (CNCD) would review whether the sale of Telefónica’s Argentine subsidiary, Telefónica Argentina, to Telecom, part of media conglomerate Grupo Clarín, constituted the formation of a monopoly. The statement noted that the deal would leave approximately 70% of telecommunications services in Argentina in the hands of one group. If found to breach competition regulations, the government “will take the relevant measures to avoid it”, reads the statement. Telefónica closed the US$1.25bn deal on 24 February, as part of a strategy reduce its exposure in Latin America.
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LatinNews Daily - 25 February 2025
In brief: Argentina’s gov’t questions Telefónica deal
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