Telecom Argentina plans to increase investments in Uruguay, report says

8 Dec 2020

Telecom Argentina and its media company shareholder Grupo Clarin are allegedly considering increasing their investments in Uruguay and could make a move to acquire mobile operator Movistar, unnamed business sources told news source Busqueda. Telecom Argentina already holds a majority stake in pay TV company Cablevision Uruguay, and the development follows reports that the government is planning to allow such operators to start offering their own broadband services in competition with state-owned incumbent Antel. Executives from the Argentine companies have already met with Uruguayan president Luis Lacalle Pou to talk about their future investments in the country, the report adds, although this meeting did not include discussions on Movistar.

In November last year Movistar Uruguay’s Spanish parent Telefonica announced plans to work towards an operational spin-off of its businesses in Hispanoamerica, with the aim of prioritising Spain, Brazil, the UK and Germany as key markets in which it can provide differential value to its customers and grow in a sustainable manner.

Uruguay, Movistar Uruguay, Telecom Argentina (incl. Cablevision)