Telecom Argentina has agreed to sell about 6m mobile customers and more than 211,000 home internet subscribers of its Telefónica Móviles Argentina unit to fibre operator Metrotel for US$450m plus VAT, the company told regulators on 14 October.
Why CPS Comunicaciones S.A. (Metrotel) is buying Telefónica Móviles Argentina customer base and assets (from Telecom Argentina)
The sale is the remedy required by Argentina's Antitrust Tribunal, which in June 2026 conditionally approved Telecom's purchase of Telefónica's Argentine subsidiary on condition that it transfer 6m active mobile customers, with the necessary spectrum, to an independent buyer. For Metrotel, a business-focused fibre network, the deal brings a large consumer mobile base.
Deal terms and financing
The US$450m is payable in instalments and covers the transfer of assets and a guaranteed minimum under a framework agreement for RAN sharing, roaming and passive infrastructure co-location. Telecom will provide transitional services and license the Tuenti brand to Metrotel for US$1m a year plus VAT.
Regulatory approvals and timing
The tribunal approved Metrotel as buyer and appointed a monitoring agent. Definitive agreements still have to be signed, and the national communications regulator Enacom must authorise the spectrum transfer. Customer migration is expected to take about 60 days.
Market context
Telefónica agreed in February 2025 to sell its Argentine unit to Telecom, a deal valued at about US$1.245bn that was suspended by the government in March 2025 pending the competition review. Metrotel says it owns more than 8,000km of fibre.
