Argentine regulators have ordered Telecom Italia to sell its shares in Telecom Argentina to avoid a telecommunications monopoly.The National Commission for the Protection of Competition says Spain's Telefonica, through Telecom Italia, currently is a major shareholder in both of Argentina's top two competitors.
Spain's Telefonica owns Telefonica Argentina. And since 2007, Spain's Telefonica has owned 26 percent of Telecom Italia, which in turn owns about half of Telecom Argentina.
The concentration of ownership violates Argentina's regulatory framework, commissioners said Thursday.
Telefonica, Telecom and their cellular companies control 60 percent of Argentina's long distance calls and 70 percent of international calls.
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