Anti-trust ruling

27 Nov 2008

The congressional telecommunications committee has ruled that Spainish telco Telefonica’s minority stake in Telecom Italia (TI) voilates Argentinean anti-trust laws. An investigation was opened after Telefonica joined a consortium that acquired nearly a quarter stake in TI in October 2007. TI owns a 50% stake in the Sofora holding company that controls Telecom Argentina. When Argentina’s telecoms sector was privatised in the 1990s its fixed line services were divided between Telecom Argentina and Telefonica de Argentina, with a government directive that there be no cross-ownership between the two.