ENTel

The Empresa Nacional de Telecomunicaciones (National Telecommunications Enterprise, mostly known for its acronym ENTel) was an Argentine state-owned enterprise which had the monopoly on public telecommunications in the country. Originally set-up in 1956 during the government of de facto President Pedro Eugenio Aramburu after the nationalization of all the assets and services of the private companies that had operated Argentina's telephone services until that point carried out by Juan Perón. In 1990, the company was liquidated under the Carlos Menem's administration that privatised most of public services and companies in the country, with Telecom and Telefónica taking over the telephone services previously managed by ENTel.

The Empresa Nacional de Telecomunicaciones (National Telecommunications Enterprise, mostly known for its acronym ENTel) was an Argentine state-owned enterprise which had the monopoly on public telecommunications in the country. Originally set-up in 1956 during the government of de facto President Pedro Eugenio Aramburu after the nationalization of all the assets and services of the private companies that had operated Argentina's telephone services until that point carried out by Juan Perón. In 1990, the company was liquidated under the Carlos Menem's administration that privatised most of public services and companies in the country, with Telecom and Telefónica taking over the telephone services previously managed by ENTel.

Privatization

ENTel was privatised by being split into two companies: Sociedad Licenciataria Norte S.A. and Sociedad Licenciataria Sur S.A.. These, in turn, were sold to France Télécom and Telefónica de España (both State enterprises themselves, at the time) during a 1990 bidding process presided over by Menem's appointed receiver, María Julia Alsogaray. Upon their transfer, these entities became known as Telecom Argentina and Telefónica de Argentina, respectively. The total value of the sale reached US$7.3 billion, and included the retirement of US$5 billion in foreign debt. Purchasing a divided national phone market along roughly equal sides of a north–south line, each company was given an initial, 7 year monopoly beginning November 8, 1990. At the same time, other companies were given exclusive licences for international long distance, telex and cellular phone service. ENTel remained in existence for a number of years as a residuary body, running off existing contracts and completing the details of its sale.

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Text derived from https://en.wikipedia.org/w/index.php?oldid=1360577165 under CC BY-SA 4.0; modifications have been made.