<SEC-DOCUMENT>0000903423-17-000738.txt : 20171229
<SEC-HEADER>0000903423-17-000738.hdr.sgml : 20171229
<ACCEPTANCE-DATETIME>20171228214908
ACCESSION NUMBER:		0000903423-17-000738
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20171228
FILED AS OF DATE:		20171229
DATE AS OF CHANGE:		20171228

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:		171279693

	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>tm6k_1228.htm
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: black 3.5pt solid; border-bottom: black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 14pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 14pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 18pt Calibri, Helvetica, Sans-Serif; margin: 6pt 0 0; text-align: center"><B>FORM 6-K</B></P>

<P STYLE="font: 14pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Report of Foreign Issuer</B></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 14pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Pursuant to Rule 13a-16 or 15d-16</B></P>

<P STYLE="font: 14pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>of the Securities Exchange Act of 1934</B></P>

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

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

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">For the month of December 2017</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">Commission File Number: 001-13464</P>

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

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

<P STYLE="font: 16pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Telecom Argentina S.A.</B></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">(Translation of registrant&rsquo;s name into
English)</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Alicia Moreau de Justo, No. 50, 1107</B></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Buenos Aires, Argentina</B></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">(Address of principal executive offices)</P>

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

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

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">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: 8pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 29%; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 12pt">Form 20-F</FONT></TD>
    <TD STYLE="width: 14%">
        <P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center; border-bottom: black 0.5pt solid">X</P></TD>
    <TD STYLE="width: 15%; font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 28%; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 12pt">Form 40-F</FONT></TD>
    <TD STYLE="width: 14%; text-align: center; vertical-align: bottom">
<!-- Field: Rule-Page --><DIV STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: black 0.5pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page --></TD></TR>
</TABLE>
<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">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: 8pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 29%; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 12pt">Yes</FONT></TD>
    <TD STYLE="width: 14%; text-align: center; vertical-align: bottom">
<!-- Field: Rule-Page --><DIV STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: black 0.5pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page --></TD>
    <TD STYLE="width: 15%; font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 28%; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 12pt">No</FONT></TD>
    <TD STYLE="width: 14%">
        <P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center; border-bottom: black 0.5pt solid">X</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">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: 8pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 29%; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 12pt">Yes</FONT></TD>
    <TD STYLE="width: 14%; text-align: center; vertical-align: bottom">
<!-- Field: Rule-Page --><DIV STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: black 0.5pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page --></TD>
    <TD STYLE="width: 15%; font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 28%; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 12pt">No</FONT></TD>
    <TD STYLE="width: 14%">
        <P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center; border-bottom: black 0.5pt solid">X</P></TD></TR>
</TABLE>
<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">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: 8pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 29%; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 12pt">Yes</FONT></TD>
    <TD STYLE="width: 14%; text-align: center; vertical-align: bottom">
<!-- Field: Rule-Page --><DIV STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: black 0.5pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page --></TD>
    <TD STYLE="width: 15%; font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 28%; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 12pt">No</FONT></TD>
    <TD STYLE="width: 14%">
        <P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center; border-bottom: black 0.5pt solid">X</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">If &ldquo;Yes&rdquo; is marked, indicate below
the file number assigned to the registrant in connection with Rule 12g3-2(b): <U>N/A</U></P>


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 14pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Telecom Argentina S.A.</B></P>

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

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

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">TABLE OF CONTENTS</P>

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

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><B><U>Exhibit</U></B></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I><U>1. English translation of letter dated
December 28, 2017 to the Argentine Securities &amp; Exchange Commission (Comisi&oacute;n Nacional de Valores)</U></I></B></P>

<P STYLE="font: bold 12pt Arial, Helvetica, Sans-Serif; margin: 0 0 6pt">&nbsp;</P>


<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B><U>FREE
TRANSLATION</U></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right">&nbsp;<IMG SRC="image_022.gif" ALT=""></P>

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


<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Buenos Aires, December 28, 2017</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><U>Chairman of the Comisi&oacute;n Nacional
de Valores</U></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><U>Lic. Marcos Ayerra</U></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Dear Sirs,</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><I><U>RE: Information Title XII, Chapter
I, sections 2 and 3 from the Argentine Securities and Exchange Commission Rules (&ldquo;CNV&rdquo;) (NT 2013)</U></I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; background-color: white">&nbsp;</P>



<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; background-color: white">I am writing
to you as&nbsp;Attorney in Fact of Telecom Argentina S.A <U>(&ldquo;Telecom Argentina&rdquo;</U> or the <U>&ldquo;Company&rdquo;</U>)&nbsp;to
inform you the following<FONT STYLE="font-family: inherit,serif; color: #212121">:</FONT></P>

<P STYLE="font: 10pt inherit,serif; margin: 0; background-color: white; color: #212121">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: inherit,serif; color: #212121">1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: inherit,serif; color: #212121">In the context of the incorporation by
merger of Cablevisi&oacute;n S.A. (&ldquo;Cablevisi&oacute;n&rdquo;) into Telecom Argentina, and in accordance with the terms of
the Preliminary Merger Agreement dated June 30, 2017 and the Final Merger Agreement granted on October 31, 2017, it was estimated
that the Company </FONT>would be able to assume the operations of Cablevisi&oacute;n beginning 12:00 am on January 1, 2018, those
establishing the effective date of the merger (the &ldquo;Merger Effective Date&rdquo;). As a consequence, and in order to facilitate
the renewal of the Boards of Directors by the new controlling shareholder, today resignation notes were received, that will become
effective as of the Merger Effective Date, of the regular directors: Mr. Baruki Luis Alberto Gonz&aacute;lez, Mr. Saturnino Jorge
Funes, Mr. Carlos Alejandro Harrison, Mr. Eduardo Javier Villegas Contte, Mr. Mart&iacute;n H&eacute;ctor D&rsquo;Ambrosio, Mr.
Pedro Chomnalez and Mr. Alejandro Macfarlane and of the alternate directors: Ms. Delfina Aira, Mr.Javier Errecondo, Mr. Jos&eacute;
Luis Galimberti, Mr. Ignacio Villarroel, Mr. Jos&eacute; Carlos Cura and Mr. Gabriel Hugo Fissore.</TD></TR></TABLE>

<P STYLE="font: 10pt inherit,serif; margin: 0; text-align: justify; background-color: white; color: #212121">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; background-color: white; color: #212121"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: inherit,serif">2)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: inherit,serif">On a meeting held today, the Board of Directors of Telecom
Argentina accepted the resignations submitted by the directors and its alternates as described in the aforementioned item and requested
to the Supervisory Committee to designate, with effects as of the Merger Effective Date and until the celebration of the next Shareholders&rsquo;
Meeting , in accordance with what is foreseen in section 258, second paragraph, of the General Corporate Law: (i) the replacements
of the seven (7) regular directors and six (6) alternate directors whose resignations were considered by the Board of Directors
today; and (ii) two (2) alternate directors to cover the vacancies generated by the assumption of two alternate directors as regular
directors, vacancies not covered to date .</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt inherit,serif; margin: 0; text-align: justify; background-color: white; color: #212121">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; background-color: white; color: #212121"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: inherit,serif">3)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: inherit,serif">The Supervisory Committee appointed Mr. Alejandro Alberto
Urricelqui, Mr. Sebasti&aacute;n Bardengo, Mr. Ignacio Jos&eacute; Mar&iacute;a S&aacute;enz Valiente, Mr. Dami&aacute;n Fabio
Cassino, Mr. Carlos Alejandro Harrison, Mr. Mart&iacute;n H&eacute;ctor D&acute;Ambrosio and Mr. Germ&aacute;n Horacio Vidal as
regular directors, and Ms. Mar&iacute;a Lucila Romero, Mr. Sebasti&aacute;n Ricardo Frabosqui D&iacute;az, Mr. Mat&iacute;as Alejandro
Fredriks, Mr. Nicol&aacute;s Sergio Novoa, Mr. Jos&eacute; Carlos Cura, Mr. Miguel &Aacute;ngel Gra&ntilde;a, Mr. Baruki Luis Alberto
Gonz&aacute;lez and Mr. Saturnino Jorge Funes as alternate directors, in all the cases to hold office since the Merger Effective
Date and until the celebration of the next Shareholders&acute; Meeting (section 258, second paragraph, from the General Corporate
Law).</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt inherit,serif; margin: 0 0 0 35.4pt; color: #212121">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; background-color: white"><FONT STYLE="font-family: inherit,serif; color: #212121">Ms.
Mar&iacute;a Lucila Romero, Mr. Sebasti&aacute;n Ricardo Frabosqui D&iacute;az, Mr. Mat&iacute;as Alejandro Fredriks and Mr. Nicol&aacute;s
Sergio Novoa will be able to replace, indistinctly, Mr. Alejandro Alberto Urricelqui, Mr. Sebasti&aacute;n Bardengo, Mr. Ignacio
Jos&eacute; Mar&iacute;a S&aacute;enz Valiente and Mr. Dami&aacute;n Fabio Cassino.</FONT> Mr. <FONT STYLE="font-family: inherit,serif; color: #212121">Jos&eacute;
Carlos Cura and Mr. Miguel &Aacute;ngel Gra&ntilde;a will be able to replace, indistinctly,</FONT> Mr. <FONT STYLE="font-family: inherit,serif; color: #212121">Carlos
Alejandro Harrison and Mr. Mart&iacute;n H&eacute;ctor D&acute;Ambrosio. Finally, Mr. Baruki Luis Alberto Gonz&aacute;lez and Mr.
Saturnino Jorge Funes will be able to replace, indistinctly, Mr. Mariano Marcelo Ib&aacute;&ntilde;ez and Mr. Germ&aacute;n Horacio
Vidal.</FONT></P>

<P STYLE="font: 10pt inherit,serif; margin: 0 0 0 35.4pt; color: #212121">&nbsp;</P>

<P STYLE="font: 10pt inherit,serif; margin: 0 0 0 0.5in; text-align: justify; background-color: white; color: #212121">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; color: #212121"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: inherit,serif">4)</FONT></TD><TD><FONT STYLE="font-family: inherit,serif">Mr. Carlos Alejandro Harrison, Mr. Mart&iacute;n H&eacute;ctor D&acute;Ambrosio, Mr.
Jos&eacute; Carlos Cura y Mr. Miguel &Aacute;ngel Gra&ntilde;a qualify as independent directors according to both the CNV Rules
and the U.S.Securities &amp; Exchange Commission (&ldquo;SEC&rdquo;) Rules . Mr. Germ&aacute;n Horacio Vidal qualifies as independent
only according to the rules of the SEC. The remaining regular and alternate directors qualify as non-independent. </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0"><B><I>&nbsp;</I></B></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; background-color: white"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="RIGHT" STYLE="width: 30%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 100%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><B>Telecom Argentina S.A.</B></TD></TR>
<TR>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 1pt; text-align: center; border-bottom: black 0.75pt solid">/s/
        Andrea V. Cerd&aacute;n</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><I>Attorney-in-Fact</I></TD></TR>
</TABLE><BR STYLE="clear: both">
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center; text-indent: 0.25in">&nbsp;</P>


<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center; text-indent: 0.25in">SIGNATURES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.25in">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: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-bottom: 20pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 20pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 20pt"><B>Telecom Argentina S.A.</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 20pt">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Date:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">December 28, 2017</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">/s/ Gabriel P. Blasi</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 27%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 9%; padding-right: 5.4pt; padding-left: 5.4pt">Name:</TD>
    <TD STYLE="width: 41%; padding-right: 5.4pt; padding-left: 5.4pt">Gabriel P. Blasi</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Title:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Responsible for Market Relations</TD></TR>
</TABLE>
<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B><I>&nbsp;</I></B></P>



<P STYLE="margin: 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>image_022.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 image_022.gif
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M[^___Q"M,3&,,4JEG/?FSDJM[PB$G/?_U@ 0"   "     C_  ,('$A08#(
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MW *?!@@Y5* J\/G]-1!AD[$T@%KS+6<2,@Z5)Q"#B5GGGGV=Y<>7;OD!F!T
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MS@U@0S,"6#P@,LHJK[PO!BX_P K-.0O@=,XT8Q$TS# KC04#.&?AM  Y^_S
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=,N Z[_#&2!,P1G+HYXQ]%\Z%3IB!Q8N0?P0$ #L!

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