Telecom Argentna SEC Filings

Telecom Argentina S.A. reports that a federal court in Tucumán has ruled not to uphold a consumer action brought by the Asociación de Consumidores del NOA. The claim sought reimbursement to Tucumán users for service not provided during a service outage on March 3, 2015, plus interest, an additional 25% of the amount charged, and punitive damages. The court determined that the outage was a fortuitous event, meaning the company is not liable under this action. This decision removes a legal claim related to past service disruption for Telecom Argentina.

Telecom Argentina S.A. reports that its board and the board of its controlled company Teledifusora San Miguel Arcangel S.A. (TSMA) have approved starting a corporate reorganization process. Under this plan, Telecom Argentina will act as the absorbing company and will merge TSMA as the absorbed company, with the merger becoming effective on January 1, 2026. From that date, TSMA’s operations will be treated as being carried out by Telecom Argentina.

The company also entrusted the preparation of a Consolidated Special Merger Financial Situation Statement for Telecom Argentina and TSMA as of December 31, 2025, based on special merger financial statements for each entity as of the same date. This indicates that financial reporting will be updated to reflect the new merged structure.

Telecom Argentina S.A. reported inflation-adjusted results for the period ended September 30, 2025. Quarterly revenue reached ARS 2,065,211 million, with operating income of ARS 165,788 million. However, financial results from borrowings of ARS (444,833) million and other financial items drove a net loss of ARS (192,481) million for the quarter. For the first nine months, revenue totaled ARS 5,622,561 million and net loss was ARS (272,543) million.

The Company consolidated TMA from February 24, 2025 and recorded preliminary purchase price allocations; TMA contributed ARS 1,784,189 million in revenue and a net loss of ARS (11,633) million since acquisition. Borrowings rose to ARS 5,120,924 million as of September 30, 2025, supported by new Notes (Series 24: US$800 million at 9.25%, plus a July reopening) used to prepay acquisition loans. Cash and cash equivalents were ARS 397,893 million. Management reported compliance with the Net Debt/EBITDA and EBITDA/Interest Net covenants. Shareholders authorized the Board to reverse voluntary reserves to allow potential dividend distributions of up to US$300 million.

Telecom Argentina reported a consolidated net loss of P$272,543 million for the nine months ended September 30, 2025. Consolidated revenues reached P$5,622,561 million, with service revenues of P$5,327,305 million, which the Company notes evolved positively relative to inflation. Mobile services led the mix with P$2,735,909 million (51.4% of service revenues), supported by higher ARPU and the consolidation of Telefónica Móviles Argentina (TMA).

Net financial results showed a loss of P$685,200 million, mainly due to higher foreign exchange losses amid 22.0% inflation and a 33.7% depreciation of the Argentine peso versus the U.S. dollar. Consolidated CAPEX totaled P$849,370 million (+73.3%). As of September 30, 2025, net financial debt was negative at P$4,433,988 million. The Ordinary Shareholders’ Meeting appointed Diego Miguel Bianchi as director, with Alberto Viglino as alternate, and accepted the resignation of Julián Akerman. Shares outstanding were 2,153,688,011 as of September 30, 2025.

Telecom Argentina S.A. reported that its Board, acting under powers delegated by the Ordinary and Extraordinary Shareholders’ Meeting held on April 25, 2025, approved a dividend distribution and a reserve withdrawal.

The company noted that these dividends relate to earnings generated as from January 1, 2018 and, where applicable, will be subject to a 7% income tax withholding pursuant to Argentine Law No. 27,430.

Telecom Argentina S.A. reported receiving a disbursement of RMB 500,000,000 from Bank of China Limited (Panama Branch) under its loan agreement signed on September 19, 2025. The loan matures in September 2028.

Telecom Argentina S.A. reported the outcomes of its Ordinary General Shareholders’ Meeting held on November 6, 2025. Shareholders appointed representatives of Cablevisión Holding S.A. and Fintech Telecom LLC to sign the meeting minutes.

Mr. Diego Miguel Bianchi was designated as director from the meeting date through the end of fiscal year 2026, and Mr. Alberto Viglino will serve as his alternate. The company noted that Mr. Bianchi qualifies as Independent under Comisión Nacional de Valores rules. Shareholders also approved the performance of resigning director Mr. Julián Akerman. Representatives of the CNV and the Buenos Aires Stock Exchange participated.