Telefonica ordered to halt non-telecoms investment

4 Feb 2013

Argentina’s telecoms regulator Comision Nacional de Comunicaciones (CNC) has ordered Telefonica de Argentina to suspend investment that is not related to the provision of telecoms services, according to a statement issued by the Ministry of Federal Planning, Public Investment and Services. The decision follows an agreement between Telefonica de Argentina and General Pueyrredon municipality to finance a new municipal building in Mar del Plata, Buenos Aires province. The CNC said it had not been informed of the agreement, and as such has ordered Telefonica de Argentina to halt further expenditure on non-telecoms activities, until it has presented a network investment plan for this year. The regulator added that there are parts of the country within Telefonica’s universal service obligation that are still unserved by the operator.