Fintech Pays $960M For Control Of Telecom Argentina

Law360, Washington (November 14, 2013, 2:51 PM EST) -- Distressed debt investment firm Fintech Group has agreed to a $960 million deal with Telecom Italia SpA to take over the Italian company’s controlling interest in Telecom Argentina SA, Telecom Italia announced Thursday.

Under the terms of the deal, Fintech will pay $750.8 million to take a 68 percent of the voting shares in Telecom Italia unit Sofora Telecommunicaciones, $61.2 million for 15.53 million Class B shares of Telecom Argentina — 1.58 percent of the company’s outstanding shares — held by unit Tierra Argentea, and $47.5...
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