Argentine anti-trust agency to study Telefonica deal-source
BUENOS AIRES, Sept 24
BUENOS AIRES, Sept 24 (Reuters) - Argentina's antitrust regulator will study a proposal by Spanish-owned Telefonica to gain control of Telecom Italia, a source at the CNDC anti-trust watchdog agency told Reuters on Tuesday.
Both companies operate in the South American country.
"We are looking into it," said the source, who has direct knowledge of the situation but spoke anonymously. "We are certainly going to study the situation to ensure competitiveness in the Argentine marketplace."
Telefonica said on Tuesday it had agreed cash-and-share deals worth around 860 million euros ($1.2 billion) to increase its stake in Telco, the controlling shareholder in Telecom Italia which it currently co-owns with some Italian investors.
Under a complex series of transactions, Telefonica will only gain full control of Telco - and therefore Telecom Italia - following approval by antitrust regulators. (Reporting By Karina Grazina)
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