Grupo W to give up its 8% stake in Telecom Argentina owner

19 Aug 2010

Telecom Italia has confirmed that Grupo W, which belongs to the Werthein family, is to relinquish its 8% holding in Sofora Telecomunicaciones, a holding company that controls Telecom Argentina. According to the Buenos Aires Herald, Telecom Italia has sent notice to the Buenos Aires stock market that the transfer of shares from Grupo W to itself is part of the agreement signed by shareholders of Telecom Argentina on 5 August. The agreement brings to an end a series of disputes between the companies.

Argentina, Telecom Argentina (incl. Cablevision), Telecom Italia (TIM)