Telecom Argentina and Cablevisión agreed to merge.

Telecom Argentina, a leading mobile and fixed telecommunications company in Argentina, and Cablevisión, the leading paid TV provider and leader in the broadband market in Argentina, agreed to merge. The merger agreement reached between the Companies provides that once the required regulatory authorizations have been obtained and the corresponding corporate process has been complied with, Cablevisión will be merged into Telecom Argentina, which will be the surviving entity. As a result of the merger, Telecom Argentina will increase its equity and its capital stock and will issue as consideration 1.2bn ordinary book-entry shares of its common stock, with nominal value of ARS$1 and entitled to one vote per share, to be delivered to Cablevisión's shareholders according to the established Distribution Ratio. "We are proud to create the leading company in convergent solutions that will fulfill the digital life of people and facilitate the digital operations of enterprises and corporations. At the same time, this transaction will allow us to develop a business model that will accelerate the market transformation towards quadruple play." CEO of Telecom Argentina, German Vidal.