MILAN: Telecom Italia said on Friday investment firm Fintech had "indicated" that it planned to appeal a decision by Argentinian authorities to prevent its purchase of a 68 percent stake in the holding company that controls Telecom Argentina.
Telecom Italia agreed back in 2013 to sell its controlling stake in Telecom Argentina's holding company Sofora to Fintech for $960 million.
A 17 percent stake in Sofora was transferred to Fintech in October 2014 for $216 million while the remaining 51 percent stake was to be sold after approval from Argentina's telecoms regulator.
But the regulator said on Thursday Fintech was not in a position to take control of Telecom Argentina.