CTI files injunction regarding Telefonica’s ‘Italian Job’

19 Mar 2008

BNamericas, quoting local paper El Cronista, reports that Argentinean cellco CTI Movil has filed an injunction with anti-trust regulator Comision Nacional de Defensa de la Competencia (CDNC) regarding Spanish giant Telefonica’s purchase of a controlling stake in Telecom Italia (TI), the largest single shareholder in former incumbent Telecom Argentina (TEO). CTI, part of Mexican group America Movil, believes that the deal will lead to a monopoly in the local telecoms market.

The government is currently studying the impact of the transaction. In October, it created a two-man ‘oversight board’ at TEO to monitor whether Telefonica is able to influence boardroom decision making. Its conclusions have recently been presented in a report to the government.