Fintech Telecom, LLC´s all-cash tender offer for all outstanding Class B Shares held by US holders and all outstanding American depositary shares (“ADSs”) of Telecom Argentina SA (“Telecom Argentina”) brought in a total 5,549,219 ADSs and 3,695 Class B Shares validly tendered and not withdrawn, the company said.
All ADSs and Class B Shares have been accepted for purchase for approximately USD105 million, net of paid distributions but excluding applicable withholding taxes. Settlement of the offer is expected to occur on 1 December 2016.
A simultaneous offer by Fintech Telecom in Argentina brought in 12,337,723 Class B Shares, all of which Fintech Telecom accepted for purchase.
Fintech Telecom, LLC was incorporated in 2013 and is based in New York, New York.