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nortel inversora-adr pfd b (NTL) Details

Nortel Inversora S.A., through its subsidiary, Telecom Argentina S.A., provides fixed-line public and mobile telecommunication services. It operates through three segments: Fixed Services, Personal Mobile Services, and Núcleo Mobile Services. The company offers local fixed telephony, public telephony, domestic and international long-distance telephony, domestic and international point-to-point link, domestic and international telex, and Internet access services in the Federal District and Greater Buenos Aires areas. It also provides value-added services, data transmission, videoconferencing, transportation of audio and video signals, and mobile radio communication services. In addition, the company offers call forwarding, call waiting, three-way calling, itemized billing, voicemail, SMS, GPRS, mobile Internet, and other miscellaneous cellular services; and sells equipment. It operates in Argentina, Paraguay, and the United States. The company was founded in 1990 and is based in Buenos Aires, Argentina.

16,586 Employees
Last Reported Date: 03/6/14
Founded in 1990

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nortel inversora-adr pfd b (NTL) Key Developments

Francesco Saverio Bruno Resigns as Alternate Director of Nortel Inversora S.A

Nortel Inversora S.A. announced that on March 18, 2014, Mr. Francesco Saverio Bruno has submitted his resignation as Alternate Director of the company, effective as of the same date.

Nortel Inversora S.A. Announces Consolidated Earnings Results for the Year Ended December 31, 2013

Nortel Inversora S.A. announced consolidated earnings results for the year ended December 31, 2013. For the full year, the company reported consolidated net income was ARS 3,209 million for fiscal year ended December 31, 2013, of which ARS 1,720 million correspond to Nortel as controlling shareholder. Total revenues and other income was ARS 27,350 million compared to ARS 22,196 million for the same period a year ago. Operating income was ARS 4,500 million compared to ARS 3,952 million for the same period a year ago. Net income before income tax expenses was ARS 5,016 million compared to ARS 4,139 million for the same period a year ago.

Nortel Inversora S.A. Declares Cash Dividend on its Common and Preferred Stock, Payable from December 27, 2013

The board of directors of Nortel Inversora S.A. resolved to deduct and distribute as cash dividends an amount of ARS 464,300,000. Payment of such dividends will begin on December 27, 2013, or any following date pursuant to applicable law at the jurisdictions where Nortel's shares are listed. The following amounts will be distributed: to the Class B preferred shares, pursuant to the terms of issuance of such shares and applicable imperative laws, an aggregate dividend of ARS 227,317,630.6020, which amounts to ARS 154.58999466 for each Class B share, representing 1,545.89994663% of its par value (ARS 10) and ARS 7.72949973 for each ADR; and to the shares of common stock, an aggregate dividend of ARS 236,982,369.3980, which amounts to ARS 44.45864652 for each share of common stock, representing 444.58646518% of its par value (ARS 10). For stockholders, record date is December 26, 2013 and payment date is as from December 27, 2013.


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