BUENOS AIRES, Argentina,
May 5, 2015 /PRNewswire/ -- Nortel
Inversora S.A. (NYSE: NTL) whose sole material activity is
holding 54.74% of the capital stock of Telecom Argentina S.A.
("Telecom") informs that Telecom has repurchased 15,221,373 of its
own stock as of March 31, 2015. As a
result, the political and economic rights of Nortel have increased
to 55.60 % of Telecom's outstanding stock as of such date.
Nortel announces consolidated income of Ps. $ 1,043 million for the first quarter of fiscal
year 2015, of which Ps.$ 573 million correspond to Nortel as
controlling shareholder.
Relevant matters
Summary of the Resolutions approved by the Ordinary and
Extraordinary General Meeting held on April
29, 2015
The Ordinary and Extraordinary General Meeting held on
April 29, 2015 resolved, among other
items:
- to approve the Annual Report and Financial Statements as of
December 31, 2014;
- to allocate the non-appropriated profit amount as of
December 31, 2014, of Ps.
$ 2,039 million, to the already
existing "Voluntary Reserve for the Future Distribution of
Dividends", authorizing the Board of Directors to approve the
timing and amounts to be deducted from the Voluntary Reserve for
the Future Distribution of Dividends, taking into account the
Company's future economic and financial conditions, and liquidity,
and the subsequent distribution of such amounts as cash
dividends.
- the appointment of the members of the Supervisory Committee for
fiscal year 2015.
(Financial Tables
below)
|
First Quarter,
Fiscal Year 2015
|
(in millions of
Argentine Pesos)
|
|
Consolidated
Income Statement
|
March 2015
|
March 2014
|
|
|
|
Revenues and other
income
|
8,879
|
7,476
|
Operating
costs
|
(7,204)
|
(6,103)
|
Operating
income
|
1,675
|
1,373
|
Financial results,
net
|
(78)
|
(28)
|
Net income before
income tax expenses
|
1,597
|
1,345
|
Income tax
expense
|
(554)
|
(440)
|
Net
income
|
1,043
|
905
|
Other comprehensive
income, net of tax
|
---
|
206
|
Total
comprehensive income for the period
|
1,043
|
1,111
|
|
|
|
Consolidated
Balance Sheet
|
March 2015
|
December
2014
|
|
|
|
Current
assets
|
7,292
|
6,581
|
Non-current
assets
|
19,877
|
19,924
|
Total
assets
|
27,169
|
26,505
|
Current
liabilities
|
8,428
|
9,115
|
Non-current
liabilities
|
2,783
|
2,454
|
Total
liabilities
|
11,211
|
11,569
|
Equity attributable
to
Nortel
|
8,758
|
8,185
|
Equity attributable
to non-controlling shareholders
|
7,200
|
6,751
|
Total
equity
|
15,958
|
14,936
|
Total liabilities
and
equity
|
27,169
|
26,505
|
|
|
|
Ratios
|
|
|
|
|
|
Liquidity
(a)
|
0.87
|
0.72
|
Indebtedness
(b)
|
0.70
|
0.77
|
(a) Current assets to current liabilities (b) Total liabilities to shareholders'
equity.
|
|
|
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SOURCE Nortel Inversora S.A.