Telecom Argentina achieves quorum for noteholders meeting

New York, March 21 - Telecom Argentina SA said it received authorizations from holders of 63.35% of its series A notes due Oct. 14, 2015 and series B notes due Oct. 15, 2011, a quorum to hold an extraordinary meeting of noteholders.

As announced on Feb. 24, Telecom Argentina was seeking to hold a noteholders meeting to approve amendments to the terms of the notes.

The proposed modifications change how subsidiary Telecom Personal SA can make capital expenditures. The amendment also proposes to eliminate the requirement to reinvest dividends paid by Telecom Personal to Telecom Argentina SA in Telecom Personal.

The solicitation expired at 12 p.m. ET on March 17 and the meeting will be held on March 27.

Buenos Aires-based Telecom Argentina is one of Argentina's largest telecommunications operators.

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