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Argentina’s Werthein Family Interested in Boosting Telecom Argentina Holdings

From Staff Reports
The Werthein Family, an Argentina family known for its investment holdings, would be interested in increasing its stake in No. 2 telephone company, Telecom Argentina SA, by purchasing the shares of that company that are currently held by Telecom Italia SpA. However, Telecom Italia has not said it wants to sell its share of the Buenos Aires-based Telecom Argentina. Indeed, Telecom Italia said back in March that it would exercise a 2009 option it had to take control of both Telecom Argentina and its allied mobile-phone unit, Telecom Personal SA.

According to Bloomberg News, the Werthein family would not comment on the Telecom Italia option, but has not plans to join with another company to bid for the Telecom Argentina stake. The family would consider buying Telecom Italia’s 50% stake of Sofora Comunicaciones SA, a holding company that indirectly controls Telecom Argentina, Gerardo Werthein, president of W de Argentina Inversiones SL, the Wertheins’ investment firm, told Bloomberg. Werthein said that W de Argentina already owns 48% of Sofora.

Related News and Story Links:

Bloomberg News:
Wertheins May Seek to Boost Telecom Argentina Stake.

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September 5th, 2007

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