UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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SCHEDULE 13D
Under the Securities Exchange Act of 1934
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(Amendment No. 1 )* |
TELECOM ARGENTINA S.A.
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(Name of Issuer)
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Class B Ordinary Shares
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(Title of Class of Securities)
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879273209
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(CUSIP Number)
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Antonino Cusimano
Telecom Italia S.p.A.
Piazza degli Affari, 2
20123 Milan - Italy
+39 06 3688 1
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(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
|
With a copy to:
Jeffrey M. Oakes, Esq.
Davis Polk & Wardwell LLP
99 Gresham Street
London EC2V 7NG, United Kingdom
Tel. No. + 44 20 7418 1386
March 9, 2011
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(Date of Event which Requires Filing of this Statement)
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If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-l(f) or 240.13d-l(g), check the following box.
o
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*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
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The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
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CUSIP No.
879273209
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1
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NAME OF REPORTING PERSONS
Telecom Italia S.p.A.
|
|
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
|
(a)
|
x
|
|
(b)
|
o
|
|
3
|
SEC USE ONLY
|
|
4
|
SOURCE OF FUNDS
OO
|
|
5
|
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e)
|
o
|
6
|
CITIZENSHIP OR PLACE OF ORGANIZATION
Italy
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NUMBER OF SHARES
BENEFICIALLY OWNED BY
EACH REPORTING PERSON
WITH
|
7
|
SOLE VOTING POWER
|
8
|
SHARED VOTING POWER
36,832,408
1
|
|
9
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SOLE DISPOSITIVE POWER
|
|
10
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SHARED DISPOSITIVE POWER
36,832,408
1
|
11
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
36,832,408
|
|
12
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|
o
|
13
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.35%
|
|
14
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TYPE OF REPORTING PERSON
HC, CO
|
CUSIP No.
879273209
|
1
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NAME OF REPORTING PERSONS
Telecom Italia International N.V.
|
|
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
|
(a)
|
x
|
|
(b)
|
o
|
|
3
|
SEC USE ONLY
|
|
4
|
SOURCE OF FUNDS
WC
|
|
5
|
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e)
|
o
|
6
|
CITIZENSHIP OR PLACE OF ORGANIZATION
The Netherlands
|
NUMBER OF SHARES
BENEFICIALLY OWNED BY
EACH REPORTING PERSON
WITH
|
7
|
SOLE VOTING POWER
|
8
|
SHARED VOTING POWER
36,832,408
2
|
|
9
|
SOLE DISPOSITIVE POWER
|
|
10
|
SHARED DISPOSITIVE POWER
36,832,408
2
|
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
36,832,408
|
|
12
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|
o
|
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.35%
|
|
14
|
TYPE OF REPORTING PERSON
HC, CO
|
CUSIP No.
879273209
|
1
|
NAME OF REPORTING PERSONS
Sofora Telecomunicaciones
S.A.
|
|
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
|
(a)
|
x
|
|
(b)
|
o
|
|
3
|
SEC USE ONLY
|
|
4
|
SOURCE OF FUNDS
OO
|
|
5
|
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e)
|
o
|
6
|
CITIZENSHIP OR PLACE OF ORGANIZATION
Argentina
|
NUMBER OF SHARES
BENEFICIALLY OWNED BY
EACH REPORTING PERSON
WITH
|
7
|
SOLE VOTING POWER
36,832,408
3
|
8
|
SHARED VOTING POWER
|
|
9
|
SOLE DISPOSITIVE POWER
36,832,408
3
|
|
10
|
SHARED DISPOSITIVE POWER
|
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
36,832,408
|
|
12
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|
o
|
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.35%
|
|
14
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TYPE OF REPORTING PERSON
HC, CO
|
CUSIP No.
879273209
|
1
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NAME OF REPORTING PERSONS
Nortel Inversora S.A.
|
|
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
|
(a)
|
x
|
|
(b)
|
o
|
|
3
|
SEC USE ONLY
|
|
4
|
SOURCE OF FUNDS
OO
|
|
5
|
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e)
|
o
|
6
|
CITIZENSHIP OR PLACE OF ORGANIZATION
Argentina
|
NUMBER OF SHARES
BENEFICIALLY OWNED BY
EACH REPORTING PERSON
WITH
|
7
|
SOLE VOTING POWER
36,832,408
|
8
|
SHARED VOTING POWER
|
|
9
|
SOLE DISPOSITIVE POWER
36,832,408
|
|
10
|
SHARED DISPOSITIVE POWER
|
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
36,832,408
|
|
12
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|
o
|
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.35%
|
|
14
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TYPE OF REPORTING PERSON
HC, CO
|
March 10, 2011
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|
Date
|
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/s/ Antonino Cusimano | |
Signature
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Antonino Cusimano
General Counsel
TELECOM ITALIA S.P.A.
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March 10, 2011
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|
Date
|
|
/s/ Francesco Saverio Lobianco | |
Signature
|
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Francesco Saverio Lobianco
Chief Executive Officer
TELECOM ITALIA INTERNATIONAL N.V.
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March 10, 2011
|
|
Date
|
|
/s/ Franco Livini | |
Signature
|
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Franco Livini
Chairman of the Board of Directors
SOFORA TELECOMUNICACIONES S.A.
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March 10, 2011
|
|
Date
|
|
/s/ Franco Livini | |
Signature
|
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Franco Livini
Chairman of the Board of Directors
NORTEL INVERSORA S.A
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March 10, 2011
|
|
Date
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|
/s/ Antonino Cusimano | |
Signature
|
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Antonino Cusimano
General Counsel
TELECOM ITALIA S.P.A.
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March 10, 2011
|
|
Date
|
|
/s/ Francesco Saverio Lobianco
|
|
Signature
|
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Francesco Saverio Lobianco
Chief Executive Officer
TELECOM ITALIA INTERNATIONAL N.V.
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March 10, 2011
|
|
Date
|
|
/s/ Franco Livini
|
|
Signature
|
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Franco Livini
Chairman of the Board of Directors
SOFORA TELECOMUNICACIONES S.A.
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March 10, 2011
|
|
Date
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/s/ Franco Livini
|
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Signature
|
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Franco Livini
Chairman of the Board of Directors
NORTEL INVERSORA S.A.
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W DE ARGENTINA – INVERSIONES S.L.
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Los W S.A.
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||
By:
Date:
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By:
Date:
|
||
DANIEL WERTHEIN
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ADRIAN WERTHEIN
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||
Date:
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Date:
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||
GERARDO WERTHEIN
|
DARIO WERTHEIN
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||
Date:
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Date:
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1.1
|
In addition to the definitions provided throughout this Agreement and unless the context otherwise requires, the following terms, when capitalized, shall have the following meanings for the purposes of construing this Agreement:
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-
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“
Affiliate
” means any Person which directly or indirectly Controls, is Controlled by, or is under common Control with, another Person.
|
-
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“
Agreement
” means this Agreement, including all Schedules and Exhibits hereto, as may be amended from time to time.
|
-
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“
2010 Amended and Restated SHA
” shall have the meaning ascribed to such term in the recitals to this Agreement.
|
-
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“Argentina
” means the Republic of Argentina.
|
-
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“
Argentine Companies Law
” means Argentine Law No. 19,550, as amended.
|
-
|
“
Business Day
” means any calendar day other than Saturday and Sunday or bank holiday in New York, New York (United States of America), Milan (Italy), in Amsterdam (The Netherlands), Madrid (Spain) and Buenos Aires (Argentina).
|
-
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“
Closing
” means the completion of the sale and purchase of the Transferred Shares and the fulfillment of any obligations of the Parties related thereto.
|
-
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“
Closing Date
” shall have the meaning set forth in Section 3.1 of this Agreement.
|
-
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“
Consideration
” has the meaning set forth in Section 2.1 of this Agreement.
|
-
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“
Control
” means (i) the ownership, in the case of a corporation, of more than 50% of the shares of such corporation with voting rights or, in the case of any other Person, the ownership of a majority of the beneficial or voting interest of such Person, or (ii) the power, directly or indirectly, to direct the management of the controlled Person, whether through the ownership of voting securities, by contract or otherwise; and “
Controlling
” and “
Controlled
” shall have corresponding meanings. For greater certainty, an investment fund, directly or indirectly, managed by a Person, or any such Person’s Affiliates, shall be considered as controlled by such Person.
|
-
|
“
Effective Date
” shall have the meaning ascribed to such term in section 7.1 below.
|
-
|
“
Governmental Entity
” shall mean any agency, bureau, board, commission, court, department, official, political subdivision, tribunal, administrative, judicial or legislative body or other regulatory or governmental authority or instrumentality, whether federal, state, municipal, national, provincial, domestic or foreign, and any stock exchange authority including without limitation the CNDC (Comisión Nacional de Defensa de la Competencia), SCI (Secreteria de Comercio Interior) and SECOM (Secreteria de Comunicaciones) .
|
-
|
“
Law
” means any applicable constitutional provision, statute or other law, rule, regulation, ordinance, or other binding action or requirement of any Governmental Entity.
|
-
|
“
Lien
” means any charge, mortgage, encumbrance, lease, option, lien, pledge, usufruct, trust, power of sale, retention of title, title defect, right of first refusal or other third party right or security interest of any kind, or an agreement, arrangement or obligation to create any of the foregoing (excluding any rights or obligations under the 2010 Amended and Restated SHA or the Transaction Documents).
|
-
|
“
Loss
” shall mean any action, cost, damage, disbursement, expense, liability, loss, including loss of revenue or income, diminution in value, deficiency, penalty or settlement of any kind or nature, including but not limited to, interest or other carrying costs, penalties, legal, accounting and other professional fees and expenses incurred in the investigation, collection, prosecution and defense of claims and amounts paid in settlement, that may be imposed on or otherwise incurred or suffered by any specified Person.
|
-
|
“
Offer
” shall mean the irrevocable offer attaching this Agreement dated as of the date hereof delivered by Los W Parties to the TI Group.
|
-
|
“
Order
” means any decree, injunction, judgment, order, ruling or writ issued by a Governmental Entity.
|
-
|
“
Person
” means any individual, partnership, association, joint stock company, joint venture, corporation, trust, unincorporated organization, limited liability company, government (or agency or political subdivision thereof), or other entity.
|
-
|
“
Notice of Acceptance
” shall mean the acceptance letter to be delivered by the TI Group as per acceptance of the Offer, as provided therein.
|
-
|
“
Representatives
” of a Person shall mean the officers, directors, managers, employees, Agreement.
|
-
|
“
Transaction Documents
” shall mean collectively this Agreement, the Second Amendment Agreement
and any other ancillary agreement or instrument executed by any of Los W Parties, on the one hand, and TI and/or TII, on the other hand, in connection therewith.
|
-
|
“
Transferred
Shares
” shall have the meaning ascribed to such term in the recitals to this Agreement.
|
-
|
“
USD
” means United States’ Dollar, the lawful currency of the United States of America.
|
1.2
|
All references in this Agreement to designated “Articles,” “Sections” or “Schedules” and other subdivisions are to the designated Articles, Sections or Schedules and other subdivisions of the body of this Agreement.
|
1.3
|
Pronouns of either gender or neuter shall include, as appropriate, the other pronoun forms and the words “herein,” “hereof” and “hereunder” and other words of similar import refer to this Agreement as a whole and not to any particular Article, Section or other subdivision. The
|
1.4
|
All references in this Agreement to “the date hereof” or similar references shall mean the date on which this Agreement is executed by all the Parties.
|
1.5
|
Any references to any statute, law, regulation, treaty or protocol shall be deemed to include any amendments thereto from time to time or any successor statute, law, regulation, treaty or protocol thereof and includes the rules and regulations promulgated thereunder, as the same also may be amended from time to time. Unless otherwise provided herein, references to any agreement shall mean such agreement as amended, restated, supplemented or otherwise modified from time to time.
|
2.1
|
The Seller hereby irrevocably agrees and undertakes to sell, transfer, assign and deliver the full title in and ownership of the Transferred Shares, free and clear of any Lien, to the Buyer, or its assignees, as the case may be, at Closing for an aggregate consideration of 145,000,000 USD (the “
Consideration
”). For the avoidance of doubt, the Seller acknowledges and agrees that the transfer of the Transferred Shares to Buyer shall only be considered perfected upon the Buyer receiving evidence satisfactory to its own discretion of its registration as owner and holder of the Transferred Shares, free and clear of any Lien in the stock ledger of Sofora.
|
2.2
|
The Buyer hereby irrevocably agrees and undertakes to purchase and acquire, from the Seller, full title in and ownership of the Transferred Shares, free and clear of any Lien, at Closing, for the Consideration.
|
2.3
|
The transfer of the Transferred Shares shall include all rights attaching thereto at the Closing Date, including (without limitation) (a) all rights deriving from any irrevocable or revocable capital contribution made as of the date hereof; (b) all preemptive rights (if any) to subscribe newly issued shares; (c) all rights (if any) deriving from any capital increase; (d) all rights to accrued profits, including retained earnings or reserves not distributed, and (e) any and all voting rights or other political rights, subject always to the provisions of the 2010 Amended and Restated SHA, as amended from time to time.
|
3.1
|
Subject to the terms and conditions set forth in this Agreement, the Closing shall take place at the headquarters of Sofora, at Av. Madero 900, Piso 26, Buenos Aires, Argentina, as of the date of delivery of the Notice of Acceptance (the “
Closing Date
”).
|
3.2
|
Actions at Closing
. At the Closing, the following actions shall take place, being understood that all proceedings to be taken and all documents to be executed and delivered by the Parties at the Closing shall be deemed to have been taken and executed simultaneously, and no such proceedings shall be deemed taken nor any such documents deemed executed or delivered until all have been taken, executed and delivered.
|
(a)
|
the Seller shall assign, transfer, and deliver in the name of and transfer to the Buyer the Transferred Shares;
|
(b)
|
the Seller shall deliver to the Buyer:
|
(i)
|
a notice of transfer of the Transferred Shares by the Seller in favor of the Buyer, duly executed by a representative of the Seller with signature(s) duly legalized by an Argentine notary public, duly accepted by the Chairman of Sofora, in substantially the same form as the one attached hereto as Exhibit II; and
|
(ii)
|
all other required documents necessary to accomplish the transfer to the Buyer of full title in and ownership of the Transferred Shares, free and clear of any Lien.
|
(c)
|
The Seller shall deliver its share certificate to the Company, and the Buyer and the Seller shall cause the Company to deliver the share certificate(s) representing the Transferred Shares to the Buyer and the share certificate representing the 32% of the share capital of Sofora to the Seller.
|
(d)
|
The Buyer shall pay and deliver to the Seller the Consideration under Article IV.
|
(e)
|
the Parties shall cause the registration of the transfer of the Transferred Shares in the Stock Registry Book (
Libro de Registro de Accionistas
)
of Sofora in the favor of Buyer.
|
(f)
|
The Seller shall take such other actions as the Buyer may reasonably request to consummate or implement the transactions contemplated hereby. Promptly upon request by the Buyer, the Seller shall take, execute, acknowledge, deliver, file, re-file, register and re-register, any and all such further acts, certificates, assurances and other instruments as the Buyer may reasonably require from time to time in order to carry out more effectively the purpose of the Closing under this Agreement.
|
3.3
|
Post-Closing Actions
. As soon as possible and in no event later than 2 Business Days after the Closing Date, the Seller and the Buyer shall inform in writing about the transfer of the Transferred Shares the applicable Governmental Entities, including the CNDC and the SECOM, and the stock exchanges.
|
5.1
|
The Buyer makes, on the date hereof, the following representations and warranties to the Seller that shall be true and accurate as of the date hereof:
|
(a)
|
Organization and Related Matters
|
(b)
|
Authorization; No Conflict
|
(c)
|
No reliance
|
(d)
|
Funds
|
5.2
|
The representations and warranties of the Buyer contained in Section 5.1 are in lieu of all other representations and warranties however provided under the law applicable hereto. Buyer makes no representation and gives no warranty to the Seller other than as specifically provided for in Section 5.1.
|
6.1
|
Each of the Seller and the Guarantors makes, on the date hereof, the following representations and warranties to the Buyer that shall be true and accurate as of the date hereof:
|
(a)
|
Organization and Related Matters
|
(b)
|
Authorization; No Conflict
|
(c)
|
Stock
|
(d)
|
No transfer restrictions
|
(e)
|
No Reliance
|
6.2
|
The representations and warranties of the Seller contained in Section 6.1 are in lieu of all other representations and warranties however provided under the Law applicable hereto. The Seller and the Guarantors make no representation and gives no warranty to the Buyer other than as specifically provided for in Section 6.1.
|
7.1
|
Validity and Effect. Termination
|
(a)
|
The Parties have executed this Agreement and agreed to be bound by it in connection with, and as an integral part of, the Offer. This Agreement shall become in full force and effect and all the provisions hereof shall be irrevocable and binding upon and enforceable against the Buyer and the Seller and the Guarantors and shall inure to the benefit of each of the Seller, the Buyer and the Guarantors upon the date of acceptance of the Offer by the Buyer through the delivery of the Notice of Acceptance as contemplated in the Offer (the “
Effective Date
”). The Buyer may, at its sole discretion, accept the Offer, this Agreement and the other Transaction Documents prior to the expiration of the Offer, as set forth in the Offer.
|
(b)
|
Notwithstanding anything to the contrary contained in this Agreement:
|
(i)
|
the Parties acknowledge and agree that this Agreement shall automatically terminate, without need for any further communication among the Parties, if the Closing does not occur, for any reasons whatsoever, within 2 days as of the date of the Offer, unless such term is extended by mutual consent in writing by Buyer and Seller.
|
7.2
|
Effect of Termination
|
8.1
|
Obligations of the Seller
|
8.2
|
Obligations of the Buyer
|
8.3
|
Procedure
|
(a)
|
Notice
. If any party that shall be indemnified in accordance with Sections 8.1 and 8.2 (such Party, an “
Indemnified Party
”) shall incur or suffer any Loss that may be subject to indemnification pursuant to this Agreement, such Indemnified Party shall give notice to the Party against which indemnification shall be sought in accordance with Sections 8.1 and 8.2 (such Party, an “
Indemnifying Party
”) of any matter that the Indemnified Party believes has given or could give rise to a right of indemnification under this Agreement promptly, but in no event later than 30 (thirty) days after the Indemnified Party first learns of such claim, stating the amount of the Loss, if known, and method of computation thereof, if possible, and containing a reference to the provisions of this Agreement in respect of which such right of indemnification is claimed or arises, and requiring indemnification of such Loss from the Indemnifying Parties (any such notice, an “
Indemnity Claim
”). The Indemnifying Parties shall, as soon as practicably possible after receipt of such notice but in no event later than 30 (thirty) days from such receipt, indemnify and reimburse the Indemnified Party for the full amount of the Loss, net of any taxes or
|
(b)
|
Defense of Third-Party Claims
. The obligations of an Indemnifying Party under this Article VIII with respect to any Loss arising from claims of any third-party which are subject to the indemnification provided therein (each, a “
Third-Party Claim
”) shall be governed by the following additional terms and conditions:
|
(i)
|
If an Indemnified Party shall receive notice of any Third-Party Claim, the Indemnified Party shall immediately give the Indemnifying Party notice of such Third Party Claim following receipt by the Indemnified Party of such notice. Such notice shall include any information and documentation available to the Indemnified Party –including without limitation the documents contained in the notification of the Third Party Claim to the Indemnified Party. Failure or delay to provide such notice shall not limit the indemnification obligations of the Indemnifying Party except solely and to the extent that the Indemnifying Party was actually prejudiced by such failure or delay.
|
(ii)
|
The Indemnifying Party shall be entitled to join – but not control - the defense of the Third-Party Claim;
provided
,
however
, that if the Indemnifying Party irrevocably and unconditionally undertakes in writing to renounce to and waive any objection, argument, action, cause of action, claim, demand, request, that it has, had or may have in the future against its obligation to indemnify the Indemnified Party against all Losses arising from such Third-Party Claim, the Indemnifying Party shall be entitled, at its own expense, to control the defense, negotiation and/or settlement of the notified Third-Party Claim through counsel selected by the Indemnifying Party and reasonably acceptable to the Indemnified Party. The Indemnified Party shall be entitled to participate in the defense of any such claim through counsel of its choosing retained at its expense.
|
(iii)
|
In the event the Indemnifying Party undertakes any such defense against any such Third-Party Claim as provided above, the Indemnified Party shall timely and promptly cooperate with the Indemnifying Party in such defense and make available to the Indemnifying Party, at the Indemnifying Party’s expense, all witnesses, pertinent records, materials and information in the Indemnified Party’s possession or under the Indemnified Party’s control relating thereto as is reasonably required by the Indemnifying Party.
|
(iv)
|
In the event the Indemnified Party is, directly or indirectly, conducting the defense against any such Third-Party Claim, the Indemnifying Party shall cooperate with the Indemnified Party in such defense and make available to the Indemnified Party, at the Indemnifying Party’s expense, all such witnesses, records, materials and information in the Indemnifying Party’s possession or under the Indemnifying Party’s control relating thereto as is reasonably required by the Indemnified Party.
|
(v)
|
No Third-Party Claim may be settled by the Indemnifying Party or by the Indemnified Party, and the Indemnifying Party shall make no concession or admission of liability, without the prior written consent of the other Party, which cannot be unreasonably withheld.
|
8.4
|
Certain General Provisions
|
(a)
|
Any Indemnity Claim under this Article VIII with respect to any breach or nonperformance by either party of a representation, warranty, covenant or agreement shall be limited to the amount of the actual Losses sustained by the Indemnified Party by reason of such breach or nonperformance, net of any insurance proceeds received by the Indemnified Party.
|
(b)
|
The Parties shall cooperate with each other with respect to resolving any claim or liability with respect to which one Party is obligated to indemnify an Indemnified Party hereunder, including by
|
10.1
|
Confidentiality
|
10.2
|
Parties in Interest; Assignment
|
10.3
|
Severability
|
10.4
|
Schedules and Exhibits; No Amendments
|
10.5
|
Counterparts. Entire Agreement
|
(a)
|
This Agreement is and shall be deemed duly executed and delivered by the Parties upon execution and delivery of the Offer and the Notice of Acceptance as of the date of execution and delivery by the Parties of the Offer and the Notice of Acceptance.
|
(b)
|
This Agreement, the Offer and the Notice of Acceptance, all annexes, appendix, exhibits, schedules to this Agreement constitute the entire agreement of the Parties with respect to the subject matter hereof and supersede all prior agreements, undertakings, both written and oral, of the Parties with respect to the subject matter hereof.
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10.6
|
Publicity and Reports
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10.7
|
Expenses
|
10.8
|
Remedies; Waiver
|
10.9
|
Language
|
10.10
|
Obligations of the Guarantors and the Seller
|
(a)
|
Each Guarantor hereby expressly, irrevocably and unconditionally agrees to be jointly and severally liable as co-obligor with the Seller, and with each other, and individually, to be fully answerable, as primary obligor and not as a surety, for the due performance of all obligations and liabilities imposed directly or indirectly on the Seller by this Agreement, including without limitation the obligation to pay the indemnification obligation under Article VIII of this Agreement.
|
(b)
|
It is expressly agreed and understood that the joint and several liability of the Guarantors and the Seller in accordance with subsection (a) above shall not be affected, limited or terminated by virtue of the winding-up, liquidation, dissolution or other incapacity of either of the Seller or any change in the status, control or ownership of either of the Seller.
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10.11
|
Headings
|
10.12
|
Specific Performance
|
10.13.
|
Compliance with Anti-Corruption Laws.
|
(a)
|
In connection with the sale of the Transferred Shares or otherwise in performing its obligations under this Agreement, the Seller represents and warrants the following:
|
(i)
|
The Seller shall make its best effort to obtain all licenses, permits and approvals required by any government or applicable authority in connection with the sale of the Transferred Shares. In addition, the Seller will comply with all country, federal, state and local laws, ordinances, codes, regulations, rules, policies and procedures of any government or other competent authority, including, without limitation, all anti-corruption laws, including, the U.S. Foreign Corrupt Practices Act (“Applicable Laws”).
|
(ii)
|
the Seller shall not take any action or permit or authorize any action in violation of the Applicable Laws;
|
(iii)
|
the Seller will not use money or other consideration paid by TII (and the Seller will not use its own money on TII’S behalf) for any unlawful purposes, including any purposes violating Applicable Laws, such as direct or indirect payments, for the purpose of assisting TII in obtaining or retaining business, to any of the following:
|
(w)
|
Government officials (including any person holding an executive, legislative, judicial or administrative office, whether elected or appointed, or of any public international organization, such as the United Nations or World Bank, or any person acting in any official capacity for or on behalf of such government, public enterprise or state-owned business); or
|
(x)
|
Political parties or party officials; or
|
(y)
|
Candidates for political office; or
|
(z)
|
Any person, while knowing that all or a portion of such money or thing of value will be offered, given or promised, directly or indirectly to any of the above-identified persons or organizations.
|
(iv)
|
To the Seller’s knowledge, the Seller and its directors and key officers are not currently and formally convicted of, or plead guilty to, any offense involving fraud or corruption;
|
(v)
|
On the basis of the information currently available to the Seller, neither it nor its directors have been listed by any government or public agency (such as the United Nations or World Bank) as debarred, suspended, or proposed for suspension or debarment or otherwise ineligible for government procurement programs;
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11.1.
|
Applicable law
|
11.2.
|
Jurisdiction
|
Aclaración:
Apoderado
W de Argentina – Inversiones S.L.
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By: |
Date: |
By: |
Date: |
By: |
Date: |
By: |
Date: |
By: |
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By: |
Date: |
Telecom Italia
Press Office
+39 06 3688 2610
http://www.telecomitalia.com/media
Telecom Italia
Investor Relations
+39 06 3688 3113
http://www.telecomitalia.com/investorrelations
|
Name and Business Address
|
Present Principal Occupation Including Name and
Address
1
of Employer
|
Directors
|
|
Gabriele GALATERI DI GENOLA
– Piazza degli Affari 2, 20123 Milan, Italy
|
Chairman of the Board of Directors – Telecom Italia S.p.A. – Piazza degli Affari 2, 20123 Milan, Italy
|
Franco BERNABE’
– Piazza degli Affari 2, 20123 Milan, Italy
|
Chief Executive Officer – Telecom Italia S.p.A. - Piazza degli Affari 2, 20123 Milan, Italy
|
Cesar Izuel ALIERTA –
Piazza degli Affari 2, 20123 Milan, Italy
|
Chairman of the Board of Directors – Telefonica S.A. - Distrito C Edificio Central 1 floor - Ronda de la Comunication S/N – 28050 Madrid, Spain
|
Paolo BARATTA
– Piazza degli Affari 2, 20123 Milan, Italy
|
Director – Telecom Italia S.p.A. - Piazza degli Affari 2, 20123 Milan, Italy
|
Tarak BEN AMMAR –
Piazza degli Affari 2, 20123 Milan, Italy
|
Chairman of the Board of Directors – Quinta Communications S.A. - Avenue Hoche, 16 – Paris 75008, France
|
Roland BERGER –
Piazza degli Affari 2, 20123 Milan, Italy
|
Honorary Chairman of the Board of Directors - Roland Berger Strategy Consultants - Mies-van-der-Rohe-Str. 6 80807 Munich, Germany
|
Elio CATANIA –
Piazza degli Affari 2, 20123 Milan, Italy
|
Chairman of the Board of Directors and Managing Director of ATM Group (Milan Transport Company) -Foro Buonaparte, 61 – 20121 Milan, Italy
|
Jean Paul FITOUSSI –
Piazza degli Affari 2, 20123 Milan, Italy
|
Professor of Economics at the Institut d’Études Politiques in Paris – 69 quai d’Orsay, 75007 – Paris, France
|
Julio LINARES LOPEZ –
Piazza degli Affari 2, 20123 Milan, Italy
|
Chief Operating Officer – Telefonica S.A. Distrito C Edificio Central 1 floor - Ronda de la Comunication S/N – 28050 Madrid, Spain
|
Gaetano MICCICHE’ –
Piazza degli Affari 2, 20123 Milan, Italy
|
General Manager - Intesa San Paolo S.p.A. – Piazza San Carlo 156 , 10121, Turin, Italy
|
Aldo MINUCCI –
Piazza degli Affari 2, 20123 Milan, Italy
|
Deputy General Manager – Assicurazioni Generali S.p.A., Piazza Duca degli Abruzzi 2, 34132, Trieste, Italy
|
Renato PAGLIARO –
Piazza degli Affari 2, 20123 Milan, Italy
|
Chairman of the Board of Directors – Mediobanca S.p.A. – Piazzetta Cuccia, 1 – 20121 Milan, Italy
|
Mauro SENTINELLI – Piazza degli Affari 2, 20123 Milan, Italy
|
Director – Telecom Italia S.p.A.- Piazza degli Affari 2, 20123 Milan, Italy
|
Name and Business Address
|
Present Principal Occupation Including Name and
Address
4
of Employer
|
Executive Officers
(Who Are Not Directors)
|
|
Oscare CICCHETTI – Piazza degli Affari 2, 20123 Milan, Italy
|
Head of Technology & Operations – Telecom Italia S.p.A. - Piazza degli Affari 2, 20123 Milan, Italy
|
Stefano CIURLI - Piazza degli Affari 2, 20123 Milan, Italy
|
Head of Purchasing – Telecom Italia S.p.A.- Piazza degli Affari 2, 20123 Milan, Italy
|
Antonino CUSIMANO – Piazza degli Affari 2, 20123 Milan, Italy
|
Head of Corporate Legal Affairs, a.i. Head of Legal Affairs and General Counsel– Telecom Italia S.p.A.
|
Luca LUCIANI - Avenida das Américas, 3.434 - 7º andar, 22640-102 Rio de Janeiro, RJ, Brazil
|
Diretor Presidente of Tim Brasil and of TIM Participaçoes S.A.
|
Andrea MANGONI – Piazza degli Affari 2, 20123 Milan, Italy
|
Chief Financial Officer and Head of International Business
–Telecom Italia S.p.A.- Piazza degli Affari 2, 20123 Milan, Italy
|
Antonio MIGLIARDI – Piazza degli Affari 2, 20123 Milan, Italy
|
Head of Human Resources and Organization – Telecom Italia S.p.A.- Piazza degli Affari 2, 20123 Milan, Italy
|
Marco PATUANO – Piazza degli Affari 2, 20123 Milan, Italy
|
Head of Domestic Market Operations – Telecom Italia S.p.A.- Piazza degli Affari 2, 20123 Milan, Italy
|
Franco BERTONE – Av. Alicia Moreau de Justo, 50, piso 13, Buenos Aires Argentina
|
Director General Ejecutivo – Telecom Argentina S.A.
|
Name and Business Address
|
Present Principal Occupation Including Name and
Address
1
of Employer
|
Directors
|
|
Andrea MANGONI (Chairman) – Piazza degli Affari 2, 20123 Milan, Italy
|
Chief Financial Officer and Head of International Business
–Telecom Italia S.p.A.
|
Francesco Saverio LOBIANCO (Chief Executive Officer) – 1627 Strawinskylaan, 1077 XX Amsterdam, The Netherlands
|
Chief Executive Officer – Telecom Italia International N.V.
|
Francesco Saverio BRUNO
– Piazza degli Affari 2, 20123 Milan, Italy
|
Manager – Telecom Italia S.p.A.
|
Stefano CIURLI
– Piazza degli Affari 2, 20123 Milan, Italy
|
Head of Purchasing – Telecom Italia S.p.A.
|
Roberto MORO
– Piazza degli Affari 2, 20123 Milan, Italy
|
Director Taxation - Telecom Italia S.p.A.
|
Marco PATUANO – Piazza degli Affari 2, 20123 Milan, Italy
|
Head of Domestic Market Operations – Telecom Italia S.p.A.
|
Nicola VERDICCHIO
– Piazza degli Affari 2, 20123 Milan, Italy
|
Head of International Legal Affairs – Telecom Italia S.p.A.
|
Name and Business Address
|
Present Principal Occupation Including Name and
Address
1
of Employer
|
Executive Officers
(Who Are Not Directors)
|
|
Andrea LILLO
– 1627 Strawinskylaan, 1077 XX Amsterdam, The Netherlands
|
Chief Financial Officer – Telecom Italia International N.V.
|
Name and Business Address
|
Present Principal Occupation Including Name and
Address
1
of Employer
|
Directors (Principal members – Alternate Directors are not listed)
|
|
Franco LIVINI – Av. Eduardo Madero N° 900, piso 26°, Buenos Aires Argentina.
|
Chairman of the Board of Directors – Sofora Telecomunicaciones S.A. and Nortel Inversora S.A.
|
Adrián WERTHEIN - Av. Eduardo Madero N° 900, piso 10°, Buenos Aires Argentina
|
Vice Chairman of the Board of Directors – Sofora Telecomunicaciones S.A.
|
Patrizio GRAZIANI - Av. Eduardo Madero N° 900, piso 26°, Buenos Aires Argentina.
|
Director – Sofora Telecomunicaciones S.A.
Assistant of Chief Executive Officer – Telecom Italia S.p.A.
|
Francesco Saverio BRUNO - Av. Eduardo Madero N° 900, piso 26°, Buenos Aires Argentina.
|
Director – Sofora Telecomunicaciones S.A.
International Support - International Business– Telecom Italia S.p.A.
|
Gerardo WERTHEIN - Av. Eduardo Madero N° 900, piso 10°, Buenos Aires Argentina.
|
Director – Sofora Telecomunicaciones S.A.
|
Darío WERTHEIN - Av. Eduardo Madero N° 900, piso 10°, Buenos Aires Argentina.
|
Director – Sofora Telecomunicaciones S.A.
|
Aldo Raúl BRUZONI - Av. del Libertador N° 3602, piso 6°, Buenos Aires Argentina.
|
Independent Senior Consultant.
|
Enrique Alberto ANTONINI San Martín 299, piso 3°, Buenos Aires Argentina.
|
Director – Alto Palermo S.A. (APSA)
|
Ricardo Alberto FERREIRO, Callao 2073, 2° piso, Buenos Aires Argentina.
|
Director – Sofora Telecomunicaciones S.A.
|
Name and Business Address
|
Present Principal Occupation Including Name and
Address
1
of Employer
|
Executive Officers
(Who Are Not Directors)
|
Name and Business Address
|
Present Principal Occupation Including Name and
Address
1
of Employer
|
Directors (Principal members – Alternate Directors are not listed)
|
|
Franco LIVINI – Av. Eduardo Madero N° 900, piso 26°, Buenos Aires Argentina.
|
Chairman of the Board of Directors – Sofora Telecomunicaciones S.A. and Nortel Inversora S.A.
|
Eduardo Federico BAUER, Av. Eduardo Madero N° 900, piso 10°, Buenos Aires, Argentina.
|
Vice Chairman of the Board of Directors – Nortel Inversora S.A.
|
Enrique LLERENA - Lavalle 1118, piso 6, Buenos Aires, Argentina
|
Director – Nortel Inversora S.A.
|
Andrea BALZARINI, Av. Eduardo Madero N° 900, piso 26, Buenos Aires, Argentina.
|
Head of Finance, Telecom Italia S.pA., Italia
|
Javier ERRECONDO - Bouchard 680, piso14, Buenos Aires, Argentina.
|
Founding Parter of law firm Errecondo, Salaverri, Dellatorre, Gonzalez & Burgio – Bouchard 680 piso 14, C1106ABH, Buenos Aires Argentina
.
|
Dionisio DIMA - Av. Eduardo Madero N° 900, piso 26°, Buenos Aires Argentina.°
|
International Legal Affairs, Telecom Italia S.p.A., Italy
|
Julio Pedro NAVEYRA - Lavalle 391, piso 4
° B, Buenos Aires, Argentina.
|
Director – Nortel Inversora S.A.
Director – Gas Natural Ban - Isabel la Catolica 939,Buenos Aires, Argentina
Director – Grupo Concesionario del Oeste S.A. - Autopista del Oeste Km. 25,92 – Ituzaingo- Provincia. de Buenos Aires.- Argentina
Síndico – Ford Argentina SCA - Av. De Mayo 651- Buenos Aires, Argentina.
Síndico – Fideicomiso Santo Domingo (Novartis)- Lavalle 391 -4*B- (1047) Buenos Aires, Argentina
Síndico – S.A. La Nacion .-Bouchard 557- Piso 6*, Buenos Aires, Argentina
|
Name and Business Address
|
Present Principal Occupation Including Name and
Address
1
of Employer
|
Executive Officers
(Who Are Not Directors)
|
|
Gustavo POZZI, Alicia Moreau de Justo 50, piso 11, Buenos Aires, Argentina
|
General Manager – Nortel Inversora S.A.
|