<SEC-DOCUMENT>0001193125-16-498822.txt : 20160310
<SEC-HEADER>0001193125-16-498822.hdr.sgml : 20160310
<ACCEPTANCE-DATETIME>20160309202001
ACCESSION NUMBER:		0001193125-16-498822
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20160309
FILED AS OF DATE:		20160310
DATE AS OF CHANGE:		20160309

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TELECOM ARGENTINA SA
		CENTRAL INDEX KEY:			0000932470
		STANDARD INDUSTRIAL CLASSIFICATION:	TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13464
		FILM NUMBER:		161495910

	BUSINESS ADDRESS:	
		STREET 1:		ALICIA MOREAU DE JUSTO 50
		CITY:			BUENOS AIRES
		STATE:			C1
		ZIP:			C1107AAB
		BUSINESS PHONE:		54-11-4968-4000

	MAIL ADDRESS:	
		STREET 1:		ALICIA MOREAU DE JUSTO 50
		CITY:			BUENOS AIRES
		STATE:			C1
		ZIP:			C1107AAB

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TELECOM ARGENTINA STET FRANCE TELECOM SA
		DATE OF NAME CHANGE:	19950809
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>d157232d6k.htm
<DESCRIPTION>6-K
<TEXT>
<HTML><HEAD>
<TITLE>6-K</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:3.00pt solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:14pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION
</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM 6-K </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:Times New Roman" ALIGN="center"><B>Report of
Foreign Issuer </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:14pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant to Rule 13a-16 or 15d-16 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:Times New Roman" ALIGN="center"><B>of the Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center">For the month of March&nbsp;2016 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center">Commission File Number: 001-13464 </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:16pt; font-family:Times New Roman" ALIGN="center"><B>Telecom Argentina S.A. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(Translation of registrant&#146;s name into English) </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Alicia Moreau de Justo, No. 50, 1107 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Buenos Aires, Argentina </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(Address of principal executive offices) </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" ALIGN="center">


<TR>
<TD WIDTH="24%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="9%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="24%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Form&nbsp;20-F</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><U>&nbsp;&nbsp;&nbsp;&nbsp;X&nbsp;&nbsp;&nbsp;&nbsp;</U></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Form&nbsp;40-F</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" ALIGN="center">


<TR>
<TD WIDTH="24%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="9%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="24%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">Yes</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">No</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><U>&nbsp;&nbsp;&nbsp;&nbsp;X&nbsp;&nbsp;&nbsp;&nbsp;</U></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" ALIGN="center">


<TR>
<TD WIDTH="24%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="9%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="24%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">Yes</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">No</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><U>&nbsp;&nbsp;&nbsp;&nbsp;X&nbsp;&nbsp;&nbsp;&nbsp;</U></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">Indicate by check mark whether by furnishing the information contained in this Form, the Registrant is also thereby furnishing
the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:12pt" ALIGN="center">


<TR>
<TD WIDTH="24%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="9%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="24%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">Yes</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">No</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><U>&nbsp;&nbsp;&nbsp;&nbsp;X&nbsp;&nbsp;&nbsp;&nbsp;</U></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">If &#147;Yes&#148; is marked, indicate below the file number assigned to the registrant in connection with Rule
12g3-2(b):&nbsp;&nbsp; <U>N/A</U> </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:3.00pt solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:Times New Roman" ALIGN="center"><B>Telecom Argentina S.A. </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><A NAME="toc"></A>TABLE OF CONTENTS </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Item
</U></B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE="font-family:Times New Roman; font-size:11pt"><B><I><U><A HREF="#tx157232_1">Documentation of the General Ordinary and Extraordinary Shareholders&#146; Meeting summoned for April 8,
2016</A></U></I></B> </P></TD></TR></TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" ALIGN="center">


<TR>
<TD WIDTH="50%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="49%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"><FONT STYLE="font-size:11pt"><B><U><A NAME="tx157232_1"></A>FOR IMMEDIATE RELEASE </U></B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">


<IMG SRC="g157232ima01.jpg" ALT="LOGO">
</TD></TR>
</TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman"><B><U>FREE TRANSLATION </U></B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Buenos Aires, March 9<SUP STYLE="font-size:85%; vertical-align:top">th</SUP>, 2016 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman">Securities &amp; Exchange Commission </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman">Dear Sirs, </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman"><B><I>RE.: <U>Documentation of the General Ordinary and Extraordinary Shareholders&#146; Meeting summoned for April 8, 2016</U> </I></B></P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman">I am writing you as<B> Attorney-in-fact</B> of <B>Telecom Argentina S.A.</B> <B>(&#145;</B>Telecom Argentina&#146; or the &#145;Company&#146;<B>), </B>to
present the documentation of the referred Shareholders&#146; Meeting. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman">We hereby attach: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">a)</TD>
<TD ALIGN="left" VALIGN="top">The Notice of Summons of the Shareholders&#146; Meeting. </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">b)</TD>
<TD ALIGN="left" VALIGN="top">The proposals of the Board with respect to the matters submitted for the consideration of the Shareholders&#146; Meeting. </TD></TR></TABLE>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman">Sincerely, </P> <P STYLE="font-size:48pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:11pt">


<TR>
<TD WIDTH="100%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:11pt">
<TD VALIGN="bottom"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Telecom Argentina S.A.</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:11pt">
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Andrea V. Cerd&aacute;n</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:Times New Roman"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:11pt">
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Attorney-in-fact</TD></TR>
</TABLE></DIV>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="right">


<IMG SRC="g157232ima01.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:12pt; font-family:ARIAL" ALIGN="center"><B><U>TELECOM ARGENTINA S.A.</U> </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:ARIAL" ALIGN="center"><B><U>NOTICE OF ORDINARY AND EXTRAORDINARY GENERAL SHAREHOLDERS&#146;</U> </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:ARIAL" ALIGN="center"><B><U>MEETING.</U> </B></P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:12pt; font-family:ARIAL" ALIGN="justify">The shareholders are summoned
to an Ordinary and Extraordinary General Shareholders&#146; Meeting to be held on <B>April 8, 2016, at 10:00 a.m. on a first call</B>, and at <B>11:00 a.m. on a second call</B> (for the matters that must be decided at an Ordinary Meeting) at the
headquarter offices at Avda. Alicia Moreau de Justo No. 50, Ground Floor, City of Buenos Aires, in order to consider the following: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:ARIAL" ALIGN="justify">1&deg;)
Appointment of two shareholders to approve and sign the Minutes of the Meeting. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:ARIAL" ALIGN="justify">2&deg;) Consideration of the appointment of regular and alternate
Directors. Consideration of the resignations submitted by three members and three alternate members of the Supervisory Committee and appointment of their replacements until the next Annual Ordinary Shareholders&acute; Meeting is held. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:ARIAL" ALIGN="justify">3&ordm;) Review of the performance of the regular and alternate Directors as well as the members and alternate members of the Supervisory Committee who
resigned due to the change of the controlling shareholder of Telecom Argentina S.A.. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:ARIAL" ALIGN="justify">4&deg;) To grant indemnity to the extent and as far as it is
allowed by law, for a period of 6 years, to the members and alternate members of the Board of Directors and of the Supervisory Committee who resigned to their positions due to the change of the controlling shareholder of the Company and to the
former Directors and members of the Supervisory Committee of Telecom Argentina S.A. nominated or appointed, directly or indirectly, by the former controlling shareholder. </P>
<P STYLE="margin-top:48pt; margin-bottom:0pt; font-size:12pt; font-family:ARIAL" ALIGN="right"><B>THE BOARD OF DIRECTORS. </B></P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:12pt; font-family:ARIAL" ALIGN="justify"><I></I><B><I>Note 1:
</I></B><I>Item 4 on the Agenda will be addressed according to the rules applicable to Extraordinary Shareholders&#146; Meetings, and the remaining items will be addressed according to the rules applicable to Ordinary Shareholders&#146; Meetings.
</I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:ARIAL" ALIGN="justify"><I></I><B><I>Note 2: </I></B><I>To be able to attend the Meeting, shareholders are required to deposit their book-entry shareholding
certificates issued for that purpose by Caja de Valores S.A., no later than three business days prior to the date of the Shareholders&#146; Meeting, at Avda. Alicia Moreau de Justo No. 50, 13th floor, City of Buenos Aires, from 10 a.m. to 12 p.m.
and from 3 p.m. to 5 p.m. The deadline to submit the share certificate is April 4, 2016, at 5 p.m. </I></P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:ARIAL" ALIGN="justify"><I></I><B><I>Note 3</I></B><I>: The documents to be discussed at the Shareholders&#146; Meeting, including
the proposals of the Board of Directors related to the issues to be considered, are available at Telecom Argentina&#146;s website: </I><B><I><U>www.telecom.com.ar</U></I></B><I></I><B><I>. </I></B><I>Hard copies of such documents may be obtained at
the place and during the hours stated in Note 2. </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:ARIAL" ALIGN="justify"><I></I><B><I>Note 4</I></B><I>: Pursuant to the provisions of Section 22 of the Chapter II,
Title II of the CNV rules, at the time of registration and at the time of attending the Meeting, shareholders must supply all the details of the holders and their representatives. Legal entities constituted abroad, trusts or any other similar
entity, must provide the information and deliver the documentation as required by the CNV rules in Sections 24, 25 and 26 of Chapter II, Title II. </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:ARIAL" ALIGN="justify"><I></I><B><I>Note 5: </I></B><I>Those registered to participate in the Shareholders&#146; Meeting as custodians or administrators of any third party
shareholdings are reminded of the need to fulfill the requirements of Section 9, Chapter II, Title II of the CNV Rules, to be able to cast a vote in a divergent manner. </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:ARIAL" ALIGN="justify"><I></I><B><I>Note 6: </I></B><I>Shareholders are requested to be present no later than 15 minutes prior to the scheduled time of the Meeting in order to
file their proxies and sign the Attendance Register. </I></P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="right">


<IMG SRC="g157232ima01.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:ARIAL" ALIGN="center"><B><U>TELECOM ARGENTINA S.A. </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:ARIAL" ALIGN="center"><B><U>PROPOSALS OF THE BOARD OF DIRECTORS CONCERNING THE ISSUES TO BE </U></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:ARIAL" ALIGN="center"><B><U>DISCUSSED AT THE ORDINARY AND EXTRAORDINARY SHAREHOLDERS&#146; </U></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:ARIAL" ALIGN="center"><B><U>MEETING SUMMONED FOR APRIL 8, 2016. </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:ARIAL" ALIGN="justify"><B>First item: </B>It is proposed to the Shareholders&#146; Meeting the designation to approve and sign the Minutes of the two shareholders that
registered the higher number of shares to participate in the Meeting. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:ARIAL" ALIGN="justify"><B>Second item: </B>No proposal is made over this item, leaving under
consideration of the Shareholders&acute; Meeting the appointment of regular and alternate Directors for the vacancies that were filled by the Supervisory Committee on March 8, 2016 and the resignations submitted by the three regular and alternate
members of the Supervisory Committee. The Board of Directors abstains from submitting a proposal in respect to the candidates to be appointed as members and alternate members of the Supervisory Committee. Shareholders who shall propose candidates to
serve on the Supervisory Committee are reminded of the requirement to notify the Shareholders&#146; Meeting if such candidates qualify as &#147;independent&#148; and that Section 79 of the Law 26,831 provides: &#147;In companies under public
offering rules on shares or bonds, all the members of the Supervisory Committee shall qualify as independent&#148;. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:ARIAL" ALIGN="justify"><B>Third item: </B>No proposal
is submitted on this item, leaving under consideration of the Shareholders&#146; Meeting the review of the performance of the members of the Board of Directors and the Supervisory Committee that have resigned due to the change of the controlling
shareholder of the Company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:ARIAL" ALIGN="justify"><B>Fourth item:</B> It is proposed to the Shareholders to approve to grant indemnity to the extent and as far as is it
allowed by law, for a period of 6 years, to the regular and alternate members of the Board of Directors and of the Supervisory Committee who resigned to their positions due to the change of the Company&#146;s controlling shareholder, and to the
former Directors and members of the Supervisory Committee of the Company nominated or appointed, directly or indirectly, by the former controlling shareholder. </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center">SIGNATURES </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:5%; font-size:12pt; font-family:Times New Roman" ALIGN="justify">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned, thereunto duly authorized. </P> <P STYLE="font-size:24pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="45%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="45%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3"><B>Telecom Argentina S.A.</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="24"></TD>
<TD HEIGHT="24" COLSPAN="2"></TD>
<TD HEIGHT="24" COLSPAN="2"></TD>
<TD HEIGHT="24" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:12pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:Times New Roman">Date:&nbsp;&nbsp;&nbsp;&nbsp; March&nbsp;9<SUP STYLE="font-size:85%; vertical-align:top">th</SUP>, 2016</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:12pt; font-family:Times New Roman" ALIGN="right">By:</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:12pt; font-family:Times New Roman">&nbsp;&nbsp;/s/ Pedro G. Insussarry</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Name:&nbsp;&nbsp;Pedro G. Insussarry</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:11pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Title: &nbsp;&nbsp;&nbsp;&nbsp;Responsible for Market Relations</TD></TR>
</TABLE>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>g157232ima01.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g157232ima01.jpg
M_]C_X  02D9)1@ ! @  9 !D  #_[  11'5C:WD  0 $    9   _^X #D%D
M;V)E &3      ?_; (0  0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0(" @(" @(" @(" P,# P,# P,# P$! 0$! 0$" 0$"
M @(! @(# P,# P,# P,# P,# P,# P,# P,# P,# P,# P,# P,# P,# P,#
M P,# P,# P,#_\  $0@ 1 "' P$1  (1 0,1 ?_$ ,4   $$ @,!
M       '" D*!08" P0! 0 !! ,! 0               @,$!0$&!P@)$
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M_P G)+E5ASEAF:\9BN=)@:[EBHV&^R#5W)15.:+.(*S1+5)LP8!Z82+ULL
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M\, 1QRAW/T\/D,XCROCBPI@2=R_CS&F6<!L9^G7&EWNUU^IRTJ1S99RS,;=
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MIA,([%*4!.81$1'H ?$=2M3!@@BO-&NXS#B>U8[PAI$=_P"2W@?'JR7#<?\
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M!?1%I>JVRNW:%:6&K2S.9B'I"G1=LU2J%*82%.9!8H??0<I=P =,X <AN@@
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IX4U5=2375FG;RC7;+_2?YD?<_"]Y5J)\Q5":/HZEX3QYPMVJ.-PC_]D!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
