Argentina, Milei suspends sale of Telefónica subsidiary

Turin, 22 Mar (LaPresse) – The government of Javier Milei has announced that it has suspended the possible acquisition of the Argentine subsidiary of Spanish group Telefónica by Telecom Argentina, as the operation could generate a monopoly in the sector. ‘The National Government, through the Secretariat of Industry and Trade of the Ministry of Economy, has decided to adopt a preventive measure that suspends the effects of the purchase of Telefónica by Telecom,’ the presidential office said in a note. The decision is based on a recommendation by the National Commission for the Defence of Competition, as the merger of the two companies would ‘significantly increase their market share’.