December 17, 2017

Telecom nationalization threatened

Tuesday, January 19, 2010

‘There is a monopoly position in local telecommunications market,’ Gov’t says

Julio De Vido

Planning Minister Julio De Vido said the Gov't is considering canceling Telecom's license. The official added that this measure would be implemented if the appeal lodged on the common plea, which has suspended the deadline for Telecom Italy to sell its stakes in the local communication market, is not successful.

"We will keep moving forward battling monopolies in the sector. We will not waiver to do what we ought to," De Vido added.

"The Congress will take part at the most suitable time," he said, and warned that the government could cancel Telecom's license "if necessary."

"We will act as we did with Correo Argentino, San Martín and Roca railways, Aguas Argentinas and Aerolineas Argentinas," he expressed.

This situation takes place after Justice suspended the deadline set by Argentina's anti-trust commission (Comisión Nacional de Defensa de la Competencia) for Telecom Italia to sell its stakes in the local communication market.

"This proves that the Judiciary system does work in Argentina. Indeed, it has backed up us in many important occasions," Telecom CEO Franco Bernabe told reporters.

Argentina's anti-trust Commission set the August deadline to enforce its August 2009 ruling that Telecom Italia had to sell its local telecommunications holdings following a review of Argentine assets controlled by key Telecom Italia investor Telefonica.


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