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BALANCES AND TRANSACTIONS WITH RELATED PARTIES | 12 Months Ended
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Dec. 31, 2024
BALANCES AND TRANSACTIONS WITH RELATED PARTIES |
BALANCES AND TRANSACTIONS WITH RELATED PARTIES | NOTE 27 - BALANCES AND TRANSACTIONS WITH RELATED PARTIES a) Controlling Company CVH is the controlling company of Telecom Argentina, holding 28.16% of the capital stock of the Company. Additionally, both CVH and FTL, contributed to the Voting Trust (the Voting Trust Agreement was formalized on April 15, 2019), in accordance with the Shareholders´ Agreement, shares representing 10.92% of the capital of the Company so the shares subject to such agreement represent 21.84% of the total capital of the Company (the “Shares in Trust”). According to the Voting Trust Agreement, the trustee appointed by CVH must vote the Shares in Trust as instructed or voted by CVH with respect to all issues except in respect of certain matters subject to veto under the Shareholders’ Agreement dated July 7, 2017. b) Balances with Related parties
● | Associates and Joint venture
​
​ | ​ | ​ | ​ | ​ | ​ | ​
CURRENT ASSETS | ​ | Kind of related party | ​ | As of December 31,
Trade receivables |  | ​ |  | 2024 |  | 2023
Ver TV | ​ | Associate | ​ | — | ​ | 22
OPH | ​ | Joint venture | ​ | 46 | ​ | 59
​ | ​ | ​ | ​ | 46 | ​ | 81
Other receivables | ​ | ​ | ​ | ​ | ​ | ​
La Capital Cable | ​ | Associate | ​ | — | ​ | 457
Ver TV | ​ | Associate | ​ | — | ​ | 4
​ | ​ | ​ | ​ | — | ​ | 461
CURRENT LIABILITIES | ​ | ​ | ​ |  | ​ |
Trade payables | ​ | ​ | ​ | ​ | ​ | ​
La Capital Cable | ​ | Associate | ​ | 207 | ​ | 7
TSMA | ​ | Associate | ​ | — | ​ | 2
OPH | ​ | Joint venture | ​ | 476 | ​ | 2,332
​ | ​ | ​ | ​ | 683 | ​ | 2,341
Other liabilities | ​ | ​ | ​ | ​ | ​ | ​
OPH | ​ | Joint venture | ​ | 3,011 | ​ | 5,135
​ | ​ | ​ | ​ | 3,011 | ​ | 5,135
NON - CURRENT LIABILITIES | ​ | ​ | ​ | ​ | ​ | ​
Other liabilities | ​ | ​ | ​ | ​ | ​ | ​
OPH | ​ | Joint venture | ​ | 2,756 | ​ | 9,001
​ | ​ | ​ | ​ | 2,756 | ​ | 9,001
​ ●Other related parties ​
​ | ​ | ​ | ​ | ​
CURRENT ASSETS | ​ | As of December 31,
Trade receivables |  | 2024 |  | 2023
Other related parties | ​ | 1,875 | ​ | 1,428
​ | ​ | 1,875 | ​ | 1,428
Other receivables | ​ | ​ | ​ | ​
Other related parties | ​ | 634 | ​ | 9
​ | ​ | 634 | ​ | 9
CURRENT LIABILITIES | ​ | ​ | ​ | ​
Trade payables | ​ | ​ | ​ | ​
Other Related parties | ​ | 12,144 | ​ | 9,989
​ | ​ | 12,144 | ​ | 9,989
​ c) Transactions with Related parties ●Associates and Joint venture ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Transaction | ​ | Kind of related party | ​ | Years ended December 31,
​ |  | ​ |  | ​ |  | 2024 |  | 2023 |  | 2022
​ | ​ | ​ | ​ | ​ | ​ | Profit (loss)
​ | ​ | ​ | ​ | ​ | ​ | Revenues
La Capital Cable | ​ | Services revenues and other revenues | ​ | Associate | ​ | 132 |  | 222 |  | 475
Ver TV | ​ | Services revenues and other revenues | ​ | Associate | ​ | 53 | ​ | 72 | ​ | —
OPH | ​ | Services revenues and other revenues | ​ | Joint venture | ​ | 336 |  | 183 |  | —
​ | ​ | ​ | ​ | ​ | ​ | 521 | ​ | 477 | ​ | 475
​ | ​ | ​ | ​ | ​ | ​ | Operating costs
La Capital Cable | ​ | Fees for services | ​ | Associate | ​ | (1,779) |  | (1,895) |  | (1,206)
OPH | ​ | Fees for services | ​ | Joint venture | ​ | (894) | ​ | — | ​ | —
​ | ​ | ​ | ​ | ​ | ​ | (2,673) |  | (1,895) |  | (1,206)
​
● | Other Related parties
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Transaction | ​ | Years ended December 31,
​ |  | ​ |  | 2024 |  | 2023 |  | 2022
​ | ​ | ​ | ​ | Profit (loss)
​ | ​ | ​ | ​ | Revenues
Other Related parties | ​ | Services and advertising revenues | ​ | 5,765 |  | 4,299 |  | 3,371
​ | ​ | ​ | ​ | 5,765 |  | 4,299 |  | 3,371
​ | ​ | ​ | ​ | Operating costs
Other Related parties | ​ | Programming costs | ​ | (40,661) |  | (38,725) |  | (47,313)
Other Related parties | ​ | Editing and distribution of magazines | ​ | (4,118) |  | (5,938) |  | (8,375)
Other Related parties | ​ | Advisory services | ​ | (8,743) |  | (5,022) |  | (6,049)
Other Related parties | ​ | Advertising purchases | ​ | (2,364) |  | (3,188) |  | (4,917)
Other Related parties | ​ | Other purchases and commissions | ​ | (6,220) |  | (2,437) |  | (2,082)
​ | ​ | ​ | ​ | (62,106) |  | (55,310) |  | (68,736)
​ The transactions discussed above were made on arm length transaction basis.When Telecom’s transactions represented more than 1% of its total shareholders’ equity, they were approved according to Law No, 26,831, the Bylaws and the Executive Committees’ Faculties and Performance Regulation. d) Key Managers Compensation for Directors for technical-administrative functions and Key Managers includes fixed and variable compensation, retention plans, social security contribution, and, in some cases, accrued severance compensation. Compensation for Directors and Key Managers of Telecom Argentina for the years ended December 31, 2024, 2023 and 2022 amounted to $17,266 million, $5,898 million and $2,775 million, respectively (in currency of the transaction date), and were recorded as expenses under the line item “Employee benefits expenses and severance payments”. As of December 31, 2024, an amount of $7,904 million remained unpaid. Telecom Argentina has recorded fees of its Board of Directors’ members of $3,224 million, $765 million and $435 million for the year ended December 31, 2024, 2023 and 2022, respectively (in currency of the transaction date). As of December 31, 2024, there are no unpaid balances. The members and alternate members of the Board of Directors do not hold executive positions in the Company or Company’s subsidiaries.

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