S&P: Telefonica de Argentina unchanged

Standard & Poor's said its ratings on Telefonica de Argentina SA (TASA, B/stable) would not be affected by the recent announcement of the approval to acquire Telefonica Data Argentina SA.

S&P said that the transaction, which is subject to regulators' approval, is part of an organizational restructuring at the Telefonica Group level.

The acquisition cost would amount to up to $54 million, which is considered relatively small compared to TASA's asset base and cash holdings and therefore would not affect TASA's cash generation ability or financial flexibility, S&P noted.

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