<SEC-DOCUMENT>0000903423-16-001167.txt : 20160725
<SEC-HEADER>0000903423-16-001167.hdr.sgml : 20160725
<ACCEPTANCE-DATETIME>20160725085339
ACCESSION NUMBER:		0000903423-16-001167
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20160725
FILED AS OF DATE:		20160725
DATE AS OF CHANGE:		20160725

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:		161781113

	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>
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<TYPE>6-K
<SEQUENCE>1
<FILENAME>telecom6k.htm
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<P STYLE="font: 14pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 14pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 14pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Washington, D.C. 20549</B></P>

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<P STYLE="font: 18pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORM 6-K</B></P>

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<P STYLE="font: 11pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center">Report of Foreign Private Issuer<BR>
Pursuant to Rule 13a-16 or 15d-16 of the<BR>
Securities Exchange Act of 1934</P>

<P STYLE="font: 11pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><B>For the month of July, 2016</B></P>

<P STYLE="font: 11pt/115% Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Commission File Number: 001-13464</B></P>

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<P STYLE="font: 11pt/115% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 18pt"><B>Telecom
Argentina S.A.</B></FONT><BR>
<FONT STYLE="font-size: 10pt">(Translation of Registrant's name into English)</FONT></P>

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<P STYLE="font: 11pt/115% Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Alicia Moreau de Justo, No. 50, 1107</B><BR>
<B>Buenos Aires, Argentina</B><BR>
<FONT STYLE="font-size: 10pt; line-height: 115%">(Address of principal executive office)</FONT></P>

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<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">Indicate by check mark whether the registrant files or will
file annual reports under cover Form 20-F or Form 40-F.&nbsp;</P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%">Form
20-F </FONT>&#9746;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%"> &nbsp;&nbsp;Form 40-F&nbsp;
&#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-bottom: 0; margin-left: 0; text-indent: 0.5in">&nbsp;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: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%">Yes
 &#9744; No </FONT>&#9746;</P>

<P STYLE="font: 10pt/115% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">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: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%">Yes
&#9744; No &#9746;</FONT></P>

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<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: center">&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 14pt; line-height: 115%"><B>Telecom
Argentina S.A. </B></FONT></P>

<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 20pt 0 0; text-align: center">TABLE OF CONTENTS</P>

<P STYLE="font: 30pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

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        <P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Item&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b></P>
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    <td nowrap style="vertical-align: top; padding-left: 12pt; text-align: center; line-height: 115%; text-indent: -12pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 12pt">1.</font></td>
    <td style="vertical-align: bottom; line-height: 115%">&nbsp;</td>
    <td style="vertical-align: top; line-height: 115%"><font style="font-family: Times New Roman, Times, Serif; font-size: 12pt">English translation of letter to the Comisi&oacute;n Nacional de Valores (the Argentine National Securities Commission --&ldquo;CNV&rdquo;), dated July 22, 2016</font></td></tr>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0; background-color: white"><B><U>FREE TRANSLATION</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0; background-color: white">Buenos Aires, July
22, 2016</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0; background-color: white">President of the
Comisi&oacute;n Nacional de Valores<BR>
Lic. Marcos Ayerra<BR>
(By Hand)</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 24pt 0 0; text-align: justify; background-color: white">Dear Sirs,</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; background-color: white"><B><I><U>RE.:
Modification of the price offered by Fintech Telecom, LLC in the Mandatory Tender Offer</U></I></B> <B><I><U>for Class B shares
issued by Telecom Argentina S.A. (&ldquo;Telecom Argentina&rdquo;).</U></I></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 8pt 0 0; text-align: justify; background-color: white">I am writing
to you as attorney-in-fact of Telecom Argentina to inform you that on the date hereof we received a letter from Fintech Telecom,
LLC (&ldquo;Fintech&rdquo;) setting forth modifications to certain terms of the Mandatory Tender Offer announced previously by
Fintech for the Class B shares issued by Telecom Argentina. These modifications include the offering price.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; background-color: white">Sincerely,</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; background-color: white">Maria Delia
Carrera Sala</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">Attorney-in-fact</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; background-color: white"><B><U>FREE TRANSLATION</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.25in 0 0; background-color: white">July 22nd, 2016</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.25in 0 0; text-align: justify; background-color: white">Mr. Mariano
M. Ib&aacute;&ntilde;ez</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify; background-color: white">Chairman of
the Board of Directors of Telecom Argentina S.A.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify; background-color: white">Alicia Moreau
de Justo 50</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify; background-color: white">C1107AAB-Buenos
Aires</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; background-color: white"><B><I><U>RE.:
Notification of the modification of the price offered by Fintech Telecom, LLC in the Mandatory Tender Offer</U></I></B> <B><I><U>for
Class B shares issued by Telecom Argentina S.A. (&ldquo;Telecom Argentina&rdquo;).</U></I></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 24pt 0 0; text-align: justify; background-color: white">Dear Sir,</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 8pt 0 0; text-align: justify; background-color: white">I am writing
to you regarding the mandatory tender offer, which was duly disclosed, for common Class B shares issued by Telecom Argentina S.A.
(each share, a &ldquo;Share&rdquo; and such mandatory tender offer, the &ldquo;OPA&rdquo;).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; background-color: white">We hereby inform
you that Fintech Telecom, LLC (the &ldquo;Offeror&rdquo;), has decided to modify the following terms of the OPA: (1) the offered
price has been amended from Ps.46 per Share to U.S.$3.925 (three dollars and ninety- two point five cents) per Share (from which
U.S.$0.050 (five cents) should be deducted per Share as cash dividends paid on May 13, 2016 according to the terms of the OPA announcement,
together with any other cash dividend payable by Telecom Argentina from the date of the OPA&rsquo;s announcement to the date of
the OPA&acute;s Payment Date) (the &ldquo;Offered Price&rdquo;). The Offered Price shall be payable in Pesos in Argentina at the
seller exchange rate announced by Banco de la Naci&oacute;n Argentina at the close of business on the business day immediately
preceding the OPA&rsquo;s Payment Date under the terms described in the OPA prospectus; and (2) the Offeror has decided to waive
the fulfillment of the condition of previously obtaining the express authorization by the Argentine Antitrust Authority for the
Offeror&rsquo;s acquisition of the indirect control of Telecom Argentina, to which the OPA was subject as set forth in the OPA
announcement. The OPA remains subject to the Offeror&rsquo;s acquisition of indirect control in Telecom Argentina not being expressly
rejected and to the absence of further conditions having been established which could adversely affect the Offeror or Telecom Argentina
or its respective affiliates (controlling companies, controlled companies or companies under common control) by the Argentine Antitrust
Authority or by any other Argentine authority as will be reflected in the OPA prospectus once it is approved by the Comisi&oacute;n
Nacional de Valores.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; background-color: white">The OPA is
subject to the prior approval by the Comisi&oacute;n Nacional de Valores, which has not been granted yet.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; background-color: white">Sincerely,</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; background-color: white">Sebastian Sanchez
Sarmiento</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">Attorney-in-fact</P>


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<P STYLE="font: bold 18pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">SIGNATURES</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0">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>

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    <td colspan="3" style="line-height: 115%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Telecom Argentina S.A.</b></font></td></tr>
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    <td style="line-height: 115%">&nbsp;</td>
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    <td style="vertical-align: top; line-height: 115%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date: July 25, 2016</font></td>
    <td style="vertical-align: bottom; line-height: 115%">&nbsp;</td>
    <td style="vertical-align: bottom; line-height: 115%">&nbsp;</td>
    <td style="vertical-align: bottom; line-height: 115%">&nbsp;</td>
    <td style="vertical-align: bottom; line-height: 115%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</font></td>
    <td style="vertical-align: bottom; line-height: 115%">&nbsp;</td>
    <td style="vertical-align: bottom">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 1pt; border-bottom: black 0.75pt solid">/s/ Pedro G. Insussarry</P></td></tr>
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    <td style="vertical-align: bottom; line-height: 115%">&nbsp;</td>
    <td style="vertical-align: bottom; line-height: 115%">&nbsp;</td>
    <td style="vertical-align: bottom; line-height: 115%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</font></td>
    <td style="vertical-align: bottom; line-height: 115%">&nbsp;</td>
    <td style="vertical-align: bottom; line-height: 115%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pedro G. Insussarry</font></td></tr>
<tr>
    <td style="vertical-align: top; line-height: 115%">&nbsp;</td>
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    <td style="vertical-align: bottom; line-height: 115%">&nbsp;</td>
    <td style="vertical-align: bottom; line-height: 115%">&nbsp;</td>
    <td style="vertical-align: bottom; line-height: 115%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</font></td>
    <td style="vertical-align: bottom; line-height: 115%">&nbsp;</td>
    <td style="vertical-align: bottom; line-height: 115%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Responsible for Market Relations</font></td></tr>
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