Argentine telco exits Sky arm

49% stake in local subsid to be sold for $5.2 mil

By PETER HUDSON

BUENOS AIRES — Telecom Argentina has pulled out of the troubled local Sky subsidiary, with the service still showing no signs of airing. The telco company, jointly controlled by Telecom Italia and France Telecom, informed the local stock exchange Thursday afternoon that it has agreed to sell its 49% stake in Sky Argentina to parent company Sky DTH Holdings.

The sale, which had been rumored for months, carried a $5.2 million price-tag. The deal is subject to approval by the government’s Federal Broadcasting Committee.

Telecom Argentina struggled to put a brave face on its retreat. Pablo Talamoni, the company’s head of public relations, said it had been motivated by the opening of the local telecommunications market, which began last year.