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Telecom Argentina 2nd-qtr profit up 35 pct on year

Tue Aug 5, 2008 8:43pm EDT

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BUENOS AIRES, Aug 5 (Reuters) - Telecom Argentina SA (TEC2.BA), one of Argentina's top telephone companies, reported on Tuesday a second-quarter net profit of 341 million pesos ($111.4 million), up 35 percent from a year ago.

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The net profit was higher than market expectations. A Reuters poll of five analysts forecast net earnings at a median of 295 million pesos, with estimates ranging from 283 million to 320 million.

The company is controlled by Telecom Italia (TLIT.MI) and an Argentine investor group run by the Werthein family. ($1 = 3.06 pesos on June 30) (Reporting by Hilary Burke and Lucas Bergman, editing by Richard Chang)

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