Mexican Moves for Telecom Argentina

Mexican investor Fintech has agreed to buy a 22.7% stake in Telecom Argentina from Telecom Italia for $960m, Telecom Italia says. In the deal, Fintech is buying shares held by the Sofora Telecomunicaciones, Nortel Inversora and Tierra Argentea entities. The Mexican shop owned by businessman David Martinez also plans to launch a tender for the remaining shares of Telecom Argentina and of Nortel, as required by law. The transaction is subject to regulatory approvals. Barclays provided a Fairness opinion to the target, according to Dealogic data.