CASH AND CASH EQUIVALENTS AND INVESTMENTS. ADDITIONAL INFORMATION ON THE CONSOLIDATED STATEMENTS OF CASH FLOWS

Schedule of financial position information of investments in associates

 

Percentage

 

(direct and

indirect) of

capital stock

Nature of

owned and

Valuation as

Companies

relationship

Main activity

Country

voting rights (%)

of 12.31.2024

of 12.31.2023

Ver TV (1) (3)

Associate

Community Closed-circuit television

Argentina

—

27,869

TSMA (1) (2) (3)

Associate

Community Closed-circuit television

Argentina

—

10,176

La Capital Cable (1)

Associate

Closed-circuit television

Argentina

50.00

5,746

5,974

OPH (1) (4) (5)

Joint venture

Holding

USA

50.00

10,851

19,254

Total

16,597

63,273

(1)	Data about the issuer arises from extra-accounting information.

(2)	As of December 31, 2023, despite owning a percentage higher than a 50% of interest, the Company did not have the control in accordance with the requirements of IFRS Accounting Standards.

(3)	During September 2024, the Company acquired an additional 49.9% equity interest in TSMA by exchanging 49% of its equity interest in Ver TV. For this transaction, the Company recognized a loss of $3,317 million. For more details, see Note 28.1).

(4)	In April 2023, the Company has acquired a 50% shareholding in OPH.

(5)	As of December 31, 2024, includes $(4,181) million of currency translation adjustments.

Schedule of investments in associates and joint ventures


		As of December 31,
		2024		2023
At the beginning of the year		63,273		53,316
Losses for the year		(12,777)		(5,014)
Reduction of interest in associate		(28,482)		—
Dividends from associates		(1,236)		(3,268)
Acquisitions		—		18,239
Currency translation adjustments		(4,181)		—
At the end of the year		16,597		63,273

Schedule of main non-cash operating transactions


				December 31,
Description		Classification of activities		2024		2023		2022
PP&E and intangible assets acquisition financed with accounts payable		Investing - Operating		248,072		367,134		227,548
Right of use assets acquisition owed		Investing - Financing		289,423		227,402		173,664
Joint ventures acquisition cancelled with government bonds		Investing - Investing		—		1,453		—
Other liabilities for acquisition of companies and joint ventures		Investing - Operating		—		10,431		5,036
Other receivables offset with acquisition of companies and joint ventures		Investing - Operating		10,162		—		—
Dividends payment made with investments not considered as cash and cash equivalents (See “Dividends paid”)		Investing - Financing		144,962		277,404		374,325
Trade payables cancelled with borrowings		Financing - Operating		28,571		90,582		88,797
Trade receivables cancelled with government bonds		Investing - Operating		—		—		5,551
Trade payables cancelled with government bonds		Investing - Operating		25,645		—		—
Exchange Notes		Financing - Financing		162,405		—		—
Transaction with non-controlling interest offset against other receivables		Financing - Operating		1,585		—		—
Dividend payable from subsidiaries		Financing - Operating		1,006		—		—

Schedule of distribution of non-cash dividends


				Distributed amount
				Currency of the		Current currency as of
Year		Government Bonds and Nominal Value		transaction date		September 30, 2025
2024 ⁽¹⁾		2030 Global Bonds: US$145,602,795		115,725		144,962
2023 ⁽²⁾		2030 Global Bonds: US$411,214,954		47,701		277,404
2022 ⁽³⁾		2030 Global Bonds: US$411,145,986 2035 Global Bonds 2035: US$103,854,014		31,634		374,325

(1)

Pursuant to the powers delegated by the shareholders of Telecom Argentina at the Ordinary and Extraordinary Shareholders’ Meeting held on April 25, 2024, on November 11, 2024, the Board of Directors resolved to partially reverse the “Voluntary reserve to maintain the Company’s level of capital expenditures and its current solvency level” to distribute as non-cash dividends for $144,962 million.

(2)

Pursuant to the powers delegated by the shareholders of Telecom Argentina at the Ordinary and Extraordinary Shareholders’ Meeting held on April 27, 2023, on May 3, 2023, the Board of Directors resolved to partially reverse the “Voluntary reserve to maintain the Company’s level of capital expenditures and its current solvency level” to distribute as non-cash dividends for $277,404 million.

(3)

Pursuant to the powers delegated by Telecom Argentina’s Ordinary and Extraordinary Shareholders’ Meeting held on April 27, 2022, on June 2, 2022, the Board resolved to partially reverse the “Voluntary reserve to maintain the Company’s level of capital expenditures and its current solvency level” to distribute as non-cash dividends for $ 374,325 million.