Milei to Review Telefonica’s $1.25 Billion Argentina Sale (4)

Argentina’s President Javier Milei warned Telefonica SA that his government will review the phone carrier’s plan to sell its local operations to Telecom Argentina SA for a possible breach of anti-monopoly rules.

Telefonica signed and closed the $1.25 billion deal on Monday after more than three decades in the country, according to a regulatory filing. The Spanish carrier has been working since late 2019 to cut its exposure to Latin America.

Shortly after the filing, Milei’s administration published a statement arguing that the deal stands to put 70% of the country’s telecommunications industry under control of one group. The antitrust ...