Telecom Argentina ( (TEO) ) has shared an announcement.
On February 24, 2025, Telecom Argentina acquired 99.999625% of Telefónica Móviles Argentina S.A. for $1.245 billion, financed through loans from major banks. This acquisition aims to strengthen Argentina’s digital infrastructure, accelerating fiber optics and 5G deployment, and enhancing broadband services. The move aligns with Telecom’s strategy to invest in Argentina’s technological development, providing robust connectivity and international-standard services, amid a consolidating global telecommunications industry.
More about Telecom Argentina
Telecom Argentina S.A. operates in the telecommunications industry, providing mobile and fixed telephony, fixed broadband, and video services. The company is focused on enhancing digital infrastructure in Argentina, with a significant presence in Argentina, Paraguay, and Uruguay. Telecom Argentina is recognized for its high-quality services and has invested heavily in network infrastructure, including fiber optics and 5G technology.
YTD Price Performance: -16.01%
Average Trading Volume: 249,016
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: $5.79B
Learn more about TEO stock on TipRanks’ Stock Analysis page.