Telecom Argentina S.A. (TEO), based in Buenos Aires, provides telecom services in Argentina and Paraguay. The company was created following the 1990 privatization of the former state-owned telecom monopoly, ENTel. Nortel Inversora, an entity controlled by France Telecom and Telecom Italia, has a 55% stake in Telecom Argentina. The company has a non-expiring license to provide fixed-line public telecommunications services and basic telephone services in Argentina. Its wireless communications service in Argentina is offered through subsidiary Telecom Personal, while in Paraguay it operates through Nucleo. Other telephone-related services, such as international long-distance services, data transmission and Internet services, wireless telecommunications services, and telephone directory publishing services are also provided.
The company operates in three segments: Fixed Telephony, Wireless, and Directory Publishing. The fixed telephony segment includes voice, data, and Internet services. Revenues by business segment in 2006 were: Wireless (58.0%), Fixed Telephony (41.0%), and Directory edition (0.8%). The Cellular business remains the growth driver with approximately 9.5 million wireless subscribers (including 1.1 million subscribers in Paraguay), as of December 31, 2006.