Ertach To Go To Telmex

Argentine holding company Sociedad Comercial del Plata has agreed to sell Ertach, its wireless solutions company, to Mexican telco Telmex for $22.5 million. The Argentine group has signed a letter of intent with Telmex, setting a period of 120 days to negotiate terms of the sale. Ertach was set up six years ago and was operating under the name Millicom Argentina until last June. Holding company Sociedad Comercial del Plata is controlled by the local Soldatti family and has interests in the oil and gas industry, entertainment, transport and real estate sectors.