Telefónica does not see regulatory risks in Argentina: the operation is already “closed”

The sale of the Argentine subsidiary by Telefónica “It has been signed” and “closed”Last Monday, so the regulatory risks that may exist are no longer from the Spanish multinational, said the head of the Spanish -American Unit of the Spanish company, Laura Abasolo.

Abasoloalso General Director of Finance and Control of the operator, who participated this Thursday in the presentation of 2024 results of the company, answered the question of the announcement of the Argentine government that Javier Milei presides to investigate whether the purchase of the Argentine subsidiary of the Spanish multinational by Telecom Argentina configures a monopoly situation in the country’s telecos market.

“The asset”, That is, Telefónica Argentina, is no longer from the Spanish multinational. “We have no active in Argentina”, Said Abasolo, who does not know if there were conversations prior to the sale of this subsidiary with the Argentine government.

This – of the conversations- is the responsibility of “To the buyer”, Telefónica “He no longer owns”The business I had in Argentina.

“I would not talk that this is the buyer’s problem, but about the opportunity”That he opens to the Argentine company with this acquisition, he added.

Abasolo did not want to pronounce on what he said Javier Milei About this purchase, since not “We are a political actor”

Telefónica He announced last Monday an agreement to sell his Argentine subsidiary to Telecom Argentina, participated by the Clarín Group, for US $ 1,245 million (1,189 million euros), according to the operator to the National Securities Market Commission (CNMV), the Spanish stock market supervisor.

After this purchase, the executive of Milei He reported in a statement that he will intervention to the National Communications Entity (ENACOM, telecommunications regulator in Argentina) and the National Commission for the Defense of Competition (CNCD) “To assess whether this operation does not constitute the formation of a monopoly”

“This acquisition could leave approximately 70% of telecommunications services in the hands of a single economic group, which would generate a monopoly formed thanks to decades of state benefits that said company received”, According to the Argentine Executive.

Operators are investing in Venezuela

In the press conference, in which the president of Telefónica and the CEO, Marc Murtra and Ángel Vilá also intervened, respectively, were also asked if it is compatible to be disinverted for example in Argentina and make investments in Venezuela, where the company announced that it will invest 500 million in the purchase of radio spectrum for the deployment of 5G.

In this regard, Abasolo He said that it is perfectly compatible to reinforce its telecommunications and infrastructure networks, adjusting the organizational team of the Latin America Unit, with other disinversions that are being made in the region.

Now, Telefónica He is exploring opportunities in Venezuela, where he is the main operator and from where positive results are being reported, he said when referring to the purchase of spectrum in this country.

“It is difficult to follow the sector in Venezuela”, Said Abasolo, who explained that the other operators are also investing in this country.