Argentina says telecom reforms to draw $20 billion; companies prepare

Source: Reuters
By: Eliana Raszewski

Even though new rules have not yet been implemented, telecom companies in Argentina are preparing for a more competitive market as the government expects reforms to attract $20 billion in investments over four years.

Telecom Argentina (TEC2.BA) and Telefonica de Argentina have announced investments in recent months, while Argentina's largest media conglomerate, Grupo Clarin (CLA.BA), is spinning off subsidiary Cablevision SA, saying in August it could better face competition as a stand-alone unit.

Communications Minister Oscar Aguad told Reuters companies, including Motorola and AT&T Inc (T.N), have expressed interest in investing in Argentina, which would mean better services and lower costs for consumers.


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