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Telecom Argentina STET-France Telecom SA (Telecom Argentina) was created by a decree of the Argentine Government in January 1990 and organised as a sociedad anónima under the name “Sociedad Licenciataria Norte SA” on April 23, 1990. In November 1990, this legal name was changed to Telecom Argentina STET-France Telecom.However, at the end of 2003, as a result of a change in the company’s controlling group and the termination of the Management Agreement relationship with respect to France Cables et Radio SA (FCR, a subsidiary of France Telecom) as joint operator of the company, the shareholders approved the change of the legal name of the company to Telecom Argentina SA.
Telecom Argentina provides fixed-line public telecommunications services and fixed telephone services, international long-distance service, data transmission, Internet services, and directories publishing services in Argentina. The company also provides wireless telecommunications services through Telecom Personal in Argentina and Núcleo in Paraguay.
Telecom Argentina’s licence, as originally granted, was exclusive to provide telephone services in the northern region of Argentina through November 8, 1997, with the possibility of a three-year extension. In March 1998, the Argentine government extended the exclusivity period to late-1999 and established the basis for a transition period towards deregulation of the telecommunications market. In this context, the Department of Communications provided for a transition period, which ended on October 10, 1999. As from such date, Telecom Argentina began providing telephone services in the southern region of Argentina and competing in the previously exclusive northern region.
Telecom Argentina's principal shareholder is Nortel Inversora SA. As of September 30, 2005, Nortel owned approximately 54.74% of Telecom Argentina's capital stock, including all of the company's Class A common shares and 8.5% of the Class B common shares. As of September 30, 2005, Nortel's common stock was owned by an Argentine company named Sofora Telecomunicaciones SA, which was organised in September 2003 and is held 50% by the Telecom Italia Group, 48% by W de Argentina-Inversiones SL (a holding company incorporated in Spain and a division of the Werthein Group), and 2% by France Telecom.
