JPMorgan upgraded Telecom Argentina (TEO) to Neutral from Underweight with a price target of $13, up from $10. The company’s acquisition of
Telefonica struck a deal to sell its unit in Argentina to Telecom Argentina for $1.3B, though the move is being assessed over monopoly fears.
The Argentine government announced that it will investigate the acquisition of Telefónica by Telecom to determine whether it creates a monopoly.
The Spanish telecommunications firm has been steadily reducing its exposure to Latin America, frequently with the help of Latham.
In a report released yesterday, Andres Coello from Scotiabank maintained a Sell rating on Telecom Argentina (TEO – Research Report), with a
Telecom Argentina (NYSE:TEO – Get Free Report) was upgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued on Tuesday, MarketBeat.com reports.