<SEC-DOCUMENT>0001104659-20-083201.txt : 20200714
<SEC-HEADER>0001104659-20-083201.hdr.sgml : 20200714
<ACCEPTANCE-DATETIME>20200713210334
ACCESSION NUMBER:		0001104659-20-083201
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20200713
FILED AS OF DATE:		20200714
DATE AS OF CHANGE:		20200713

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:		201026195

	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>a20-24770_16k.htm
<DESCRIPTION>6-K
<TEXT>


<html>
<head>




  </head>
<body link=blue lang="EN-US">
<div>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents"><font face="Arial">Table of Contents</font></a></font></p>
<div style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:solid windowtext 3.0pt;padding:1.0pt 0in 1.0pt 0in;">
<p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="1" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>
</div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Arial" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="4" face="Arial" style="font-size:14.0pt;font-weight:bold;">SECURITIES AND EXCHANGE COMMISSION</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="4" face="Arial" style="font-size:14.0pt;font-weight:bold;">Washington, D.C. 20549</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Arial" style="font-size:18.0pt;font-weight:bold;">FORM&nbsp;6-K</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Arial" style="font-size:5.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Arial" style="font-size:12.0pt;font-weight:bold;">REPORT OF FOREIGN PRIVATE ISSUER</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="4" face="Arial" style="font-size:14.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="4" face="Arial" style="font-size:14.0pt;font-weight:bold;">Pursuant to Rule&nbsp;13a-16 or 15d-16</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="4" face="Arial" style="font-size:14.0pt;font-weight:bold;">of the Securities Exchange Act of 1934</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:12.0pt;">For the month of July&nbsp;2020</font></p>
<p style="margin:0in 0in .0001pt;"><font size="4" face="Arial" style="font-size:14.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:12.0pt;">Commission File Number: 001-13464</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Arial" style="font-size:16.0pt;font-weight:bold;">Telecom </font></b><b><font size="5" face="Arial" style="font-size:16.0pt;font-weight:bold;">Argentina S.A.</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:10.0pt;">(Translation of registrant&#146;s name into English)</font></p>
<p style="margin:0in 0in .0001pt;"><font size="4" face="Arial" style="font-size:14.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Arial" style="font-size:12.0pt;font-weight:bold;">Alicia Moreau de Justo, No.&nbsp;50, 1107</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Arial" style="font-size:12.0pt;font-weight:bold;">Buenos Aires, Argentina</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:10.0pt;">(Address of principal executive offices)</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">Indicate by check mark whether the registrant files or will file annual reports under cover of Form&nbsp;20-F or Form&nbsp;40-F:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<div align="center">
<table border="0" cellspacing="0" cellpadding="0" width="47%" style="border-collapse:collapse;">
<tr>
<td width="28%" valign="top" style="padding:0in 0in 0in 0in;width:28.16%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:12.0pt;">Form&nbsp;20-F</font></p>    </td>
<td width="14%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:14.08%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:12.0pt;">X</font></p>    </td>
<td width="15%" valign="top" style="padding:0in 0in 0in 0in;width:15.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="28%" valign="top" style="padding:0in 0in 0in 0in;width:28.16%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:12.0pt;">Form&nbsp;40-F</font></p>    </td>
<td width="14%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:14.08%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
</div>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">Indicate by check mark if the registrant is submitting the Form&nbsp;6-K in paper as permitted by Regulation S-T Rule&nbsp;101(b)(1):</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<div align="center">
<table border="0" cellspacing="0" cellpadding="0" width="47%" style="border-collapse:collapse;">
<tr>
<td width="28%" valign="top" style="padding:0in 0in 0in 0in;width:28.16%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:12.0pt;">Yes</font></p>    </td>
<td width="14%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:14.08%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="top" style="padding:0in 0in 0in 0in;width:15.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="28%" valign="top" style="padding:0in 0in 0in 0in;width:28.16%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:12.0pt;">No</font></p>    </td>
<td width="14%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:14.08%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:12.0pt;">X</font></p>    </td>   </tr>  </table>
</div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">Indicate by check mark if the registrant is submitting the Form&nbsp;6-K in paper as permitted by Regulation S-T Rule&nbsp;101(b)(7):</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<div align="center">
<table border="0" cellspacing="0" cellpadding="0" width="47%" style="border-collapse:collapse;">
<tr>
<td width="28%" valign="top" style="padding:0in 0in 0in 0in;width:28.16%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:12.0pt;">Yes</font></p>    </td>
<td width="14%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:14.08%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="15%" valign="top" style="padding:0in 0in 0in 0in;width:15.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="28%" valign="top" style="padding:0in 0in 0in 0in;width:28.16%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:12.0pt;">No</font></p>    </td>
<td width="14%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:14.08%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:12.0pt;">X</font></p>    </td>   </tr>  </table>
</div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade align="left" style="color:#010101;"></div>
</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\120455\20-24770-1\task9757152\24770-1-ba.htm',USER='120455',CD='Jul 14 04:40 2020' -->

<div style="page-break-before:always;"></div>
<div>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents"><font face="Arial">Table of Contents</font></a></font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="4" face="Arial" style="font-size:14.0pt;font-weight:bold;">Telecom </font></b><b><font size="4" face="Arial" style="font-size:14.0pt;font-weight:bold;">Argentina S.A.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:12.0pt;">TABLE O<a name="TableOfContents"></a>F CONTENTS</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><u><font size="2" face="Arial" style="font-size:10.0pt;font-weight:bold;">Item</font></u></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;">
<tr>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.06%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman"><a href="#FREETRANSLATION_033311"><b><i><font size="2" style="font-size:11.0pt;font-style:italic;font-weight:bold;">1.</font></i></b></a></font></p>    </td>
<td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="92%" valign="top" style="padding:0in 0in 0in 0in;width:92.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman"><a href="#FREETRANSLATION_033311"><b><i><font size="2" style="font-size:11.0pt;font-style:italic;font-weight:bold;">English translation of a   letter dated July&nbsp;13, 2020 to the Argentine Securities&nbsp;&amp;   Exchange Commission (Comisi&#243;n Nacional de Valores)</font></i></b></a></font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;"><font face="Arial">2</font><a name="PB_2_033015_7891"></a></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade align="left" style="color:#010101;"></div>
</div>
<!-- SEQ.=1,FOLIO='2',FILE='C:\JMS\120455\20-24770-1\task9757152\24770-1-ba.htm',USER='120455',CD='Jul 14 04:40 2020' -->

<div style="page-break-before:always;"></div>
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents"><font face="Arial">Table of Contents</font></a></font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;">
<tr>
<td width="29%" style="padding:0in 0in 0in 0in;width:29.88%;">
<p style="margin:0in 0in .0001pt;"><b><u><font size="2" face="Arial" style="font-size:10.0pt;font-weight:bold;">FREE   TRANSLATION<a name="FREETRANSLATION_033311"></a></font></u></b></p>    </td>
<td width="70%" valign="top" style="padding:0in 0in 0in 0in;width:70.12%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial"><img border="0" width="108" height="61" src="g247701bai001.jpg"></font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">Buenos Aires, July&nbsp;13, 2020</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="3" face="Arial" style="font-size:12.0pt;font-weight:bold;">Comisi&#243;n Nacional de Valores</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><i><font size="3" face="Arial" style="font-size:12.0pt;font-style:italic;font-weight:bold;">Re.: <u>Call to an Extraordinary Bondholders&#146; Meeting of the Fixed-Rate Class&nbsp;&#147;A&#148; Notes due June&nbsp;15, 2021, to be held on August&nbsp;5, 2020 on the first call</u></font></i></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">Dear Sirs,</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="3" face="Arial" style="font-size:12.0pt;">I am writing to you in my capacity as Attorney-in-fact of <b>Telecom Argentina S.A.</b>, to inform you that the Company&#146;s Board of Directors, in a meeting held today, resolved to call an Extraordinary Bondholders&#146; Meeting of the Fixed-Rate Class&nbsp;&#147;A&#148; Notes due June&nbsp;15, 2021, issued by Cablevisi&#243;n S.A., a company of which Telecom Argentina S.A. is the surviving company after the merge (hereinafter, the &#147;2021 Notes&#148; and the &#147;Meeting&#148;).</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="3" face="Arial" style="font-size:12.0pt;">The Bondholders&#180;&#146; Meeting is called to be held on <b>August&nbsp;5, 2020 at 10:00 a.m.&nbsp;(Buenos Aires time), on the first call,</b> in order to consider the amendments and/or elimination of the following terms and conditions of the 2021 Notes and the related clauses (or parts thereof) in the 2021 Notes Indenture:</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><b><font size="2" face="Arial" style="font-size:10.0pt;font-weight:bold;">1.</font></b><b><font size="3" face="Arial" style="font-size:12.0pt;font-weight:bold;">&#160; <i>Amendments to the definitions of the terms of the 2021 Notes and Indenture of the 2021 Notes</i>. </font></b><i><font size="3" face="Arial" style="font-size:12.0pt;font-style:italic;">It is proposed that the definition of &#147;Cable TV/Telecommunications Business&#148; in &#147;Section&nbsp;1.1 (Definitions)&#148; of the 2021 Notes&#146; Indenture be deleted in its entirety.</font></i></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><b><font size="2" face="Arial" style="font-size:10.0pt;font-weight:bold;">2.</font></b><b><font size="3" face="Arial" style="font-size:12.0pt;font-weight:bold;">&#160; <i>Amendments of the terms of the 2021 Notes and Article&nbsp;4 of the 2021 Notes&#146; Indenture.</i></font></b></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-align:justify;text-indent:-.25in;"><i><font size="2" face="Arial" style="font-size:10.0pt;font-style:italic;">(a)</font></i><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font size="3" face="Arial" style="font-size:12.0pt;font-style:italic;">It is proposed that Section&nbsp;4.03 (Maintenance of Existence; Ratings) of the 2021 Notes&#146; Indenture be deleted in its entirety and replaced by the following: &#147;Intentionally omitted&#148;.</font></i></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-align:justify;text-indent:-.25in;"><i><font size="3" face="Arial" style="font-size:12.0pt;font-style:italic;">(b)</font></i><i><font size="1" style="font-size:3.0pt;font-style:italic;">&#160;&#160;&#160;&#160; </font></i><i><font size="3" face="Arial" style="font-size:12.0pt;font-style:italic;">It is proposed that Section&nbsp;4.04 (Laws, Licenses and Permits) of the 2021 Notes&#146; Indenture be deleted in its entirety and replaced by the following: &#147;Intentionally omitted&#148;.</font></i></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-align:justify;text-indent:-.25in;"><i><font size="3" face="Arial" style="font-size:12.0pt;font-style:italic;">(c)</font></i><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160; </font><i><font size="3" face="Arial" style="font-size:12.0pt;font-style:italic;">It is proposed that Section&nbsp;4.15 (Line and Conduct of Business) of the 2021 Notes&#146; Indenture be deleted in its entirety and replaced by the following: &#147;Intentionally omitted&#148;.</font></i></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-align:justify;text-indent:-.25in;"><i><font size="3" face="Arial" style="font-size:12.0pt;font-style:italic;">(d</font></i><font size="3" face="Arial" style="font-size:12.0pt;">)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160; </font><i><font size="3" face="Arial" style="font-size:12.0pt;font-style:italic;">It is proposed that Section&nbsp;4.19 (Listing) of the 2021 Notes&#146; Indenture be deleted in its entirety and replaced by the following: &#147;Intentionally omitted&#148;.</font></i></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;"><font face="Arial">3</font><a name="PB_3_033323_7056"></a></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade align="left" style="color:#010101;"></div>
</div>
<!-- SEQ.=1,FOLIO='3',FILE='C:\JMS\120455\20-24770-1\task9757152\24770-1-ba.htm',USER='120455',CD='Jul 14 04:40 2020' -->

<div style="page-break-before:always;"></div>
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents"><font face="Arial">Table of Contents</font></a></font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .25in;text-align:justify;"><b><font size="2" face="Arial" style="font-size:10.0pt;font-weight:bold;">3.</font></b><b><font size="3" face="Arial" style="font-size:12.0pt;font-weight:bold;">&#160; <i>Amendments to the terms of the 2021 Notes and Article&nbsp;6 of the 2021 Notes&#146; Indenture.</i></font></b></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .25in;text-align:justify;"><i><font size="3" face="Arial" style="font-size:12.0pt;font-style:italic;">(a)&nbsp;It is proposed that Section&nbsp;6.01(e)&nbsp;(Events of Default) of the 2021 Notes&#146; Indenture be amended and restated as follows</font></i><i><font size="3" face="Arial" style="font-size:12.0pt;font-style:italic;">:</font></i></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-align:justify;"><i><font size="3" face="Arial" style="font-size:12.0pt;font-style:italic;">&#147;(e)&nbsp;there occurs with respect to any Debt of the Company or any of its Significant Subsidiaries having an outstanding principal amount of U.S.$<b><u style="font-weight:bold;">100</u></b> million (or the equivalent in other currencies) or more in the aggregate for all such Debt of all such Persons (1)&nbsp;an event of default that results in such Debt being due and payable prior to its scheduled maturity or (2)&nbsp;a default caused by a failure to make a principal payment when due and such defaulted payment is not made, waived or extended within the applicable grace period;</font></i></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-align:justify;text-indent:-.25in;"><i><font size="3" face="Arial" style="font-size:12.0pt;font-style:italic;">(b)</font></i><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160; </font><i><font size="3" face="Arial" style="font-size:12.0pt;font-style:italic;">It is proposed that Section&nbsp;6.01(f)&nbsp;(Events of Default) of the 2021 Notes&#146; Indenture be deleted in its entirety and replaced by the following: &#147;Intentionally Omitted&#148;.</font></i></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">Sincerely,</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;">
<tr>
<td width="57%" valign="top" style="padding:0in 0in 0in 0in;width:57.5%;">
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Arial" style="font-size:12.0pt;font-weight:bold;">Telecom Argentina S.A.</font></b></p>    </td>   </tr>
<tr>
<td width="57%" valign="top" style="padding:0in 0in 0in 0in;width:57.5%;">
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>    </td>
<td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="57%" valign="top" style="padding:0in 0in 0in 0in;width:57.5%;">
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="42%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:42.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:12.0pt;">/s/ Andrea V. Cerd&#225;n</font></p>    </td>   </tr>
<tr>
<td width="57%" valign="top" style="padding:0in 0in 0in 0in;width:57.5%;">
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.5%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:12.0pt;">Attorney in Fact</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;"><font face="Arial">4</font><a name="PB_4_033444_5335"></a></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade align="left" style="color:#010101;"></div>
</div>
<!-- SEQ.=1,FOLIO='4',FILE='C:\JMS\120455\20-24770-1\task9757152\24770-1-ba.htm',USER='120455',CD='Jul 14 04:40 2020' -->

<div style="page-break-before:always;"></div>
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#TableOfContents" title="Click to go to Table of Contents"><font face="Arial">Table of Contents</font></a></font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SIGNATURES</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">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.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;">
<tr>
<td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.06%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.94%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Telecom   </font></b><b>Argentina S.A.</b></p>    </td>   </tr>
<tr>
<td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.06%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.94%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.06%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.94%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.06%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.94%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.06%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.94%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
<tr>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date:&nbsp;&nbsp;&nbsp;July&nbsp;13,   2020</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.16%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
<td width="45%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:45.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Fernando J. Balmaceda</font></p>    </td>   </tr>
<tr>
<td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.06%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.94%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.16%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>    </td>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.16%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Fernando J. Balmaceda</font></p>    </td>   </tr>
<tr>
<td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.06%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.94%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.16%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.66%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>    </td>
<td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.16%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Responsible for   Market Relations</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;"><font face="Arial">5</font><a name="PB_5_033638_5796"></a></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade align="left" style="color:#010101;"></div>
</div>
<!-- SEQ.=1,FOLIO='5',FILE='C:\JMS\120455\20-24770-1\task9757152\24770-1-ba.htm',USER='120455',CD='Jul 14 04:40 2020' -->

</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>g247701bai001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g247701bai001.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  (! 0(! 0(" @(" @(" P4# P,#
M P8$! ,%!P8'!P<&!P<("0L)" @*" <'"@T*"@L,# P,!PD.#PT,#@L,# S_
MVP!# 0(" @,# P8# P8," <(# P,# P,# P,# P,# P,# P,# P,# P,# P,
M# P,# P,# P,# P,# P,# P,# P,# S_P  1"  ] &P# 2(  A$! Q$!_\0
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M)O[*7PM^&?@VRO-*UOXI>.)C8/K)M46W#1M%&9%BP%#N\\>,KL&'^7H*X_\
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MIJ3CM>Y\]_!+_@E3^S[\ UA?0?A7X8>ZA *WFJ0'5+E6_O+)<&0J>OW<=<
M<5[YI^C6FDV<5O:V\-M;PJ$CBB0(D:CH !P!5JBN6OB:U>7/6FY/NVW^9UT,
M)0H1Y:,%%>22_(9Y"YZ4OE+Z4ZBL3H&^4OI1Y8':G44 -,*GM3&M(VZK^M2T
M4>8'G_Q9_92^&?QXA=?&?@+PGXF9UV^;J.EPSS+Q@%9&7>I )P5(([5\@?'+
M_@W4^ GQ1>6X\.1>(_ %XQ)5=+OS<6FXG/,5QYA _P!E&0#C''%??])L%=^$
MS7&X1WPU64?1Z?=M^!YN,R? XM6Q%*,OEK]^Y\W?\$X_^"=&B?\ !.OP!KVA
MZ+XAUCQ%_P )!?+?7$UZD<:Q%4"*J(@XX')).>.F*^D1TH" 4M<V)Q-7$UI5
3Z\N:4MV=.$PE+#4E0H*T5LC_V0$!

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