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Telecom Italia

Telecom Argentina to Launch Share Buyback Program

Argentine telecommunications company Telecom Argentina SA (TEO, TECO2.BA) plans to buy back up to ARS1.2 billion ($229 million) worth of its own shares, the company said in an exchange filing Thursday.The plan, which will run through April 24, will buy back shares representing up to 10% of the company's market capitalization.Profits booked in 2012 will be used for the buyback at a price of between ARS1 and ARS32.50 per share, Telecom said.Telecom Argentina shares fell 0.9% to ARS27 on Thursday.The program is designed to "defend the best interest of the shareholders in the face of damages suffered due to repeated fluctuations in capital markets due to the international macroeconomic context," the company said.The plan is also in the interest of shareholders "considering the relationship between the share price and [Telecom's] income, and when compared to the market value of similar telecommunications companies in the region," Telecom said in the statement.Telecom Italia SpA (TI, TIA, TI...

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  1. Telecom Italia To Decide On Spinoff Project on May 30

    Italy's largest telecom operator Telecom Italia (TIT.MI) said Thursday it will make a final decision on whether to spin off its fixed-line network on May 30, as the ...

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