Telefonica's $1.25 Billion Argentina Sale Draws Milei's Scrutiny
Telefonica SA agreed on Monday to sell its operations in Argentina to local firm Telecom Argentina SA for $1.25 billion, though President Javier Milei immediately warned his government would review the transaction as a possible monopoly.
The Spanish mobile carrier signed and closed the deal on Monday, according to a regulatory filing. Shortly after, Milei's administration published a statement announcing it will evaluate the sale, arguing that it stands to put 70% of the country's telecommunications industry under control of one group.
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