UPDATE 1-Telecom Argentina 3rd-qtr net rose to 444 mln pesos

* Q3 net profit was slightly above market expectations

* Jan-Sept net totaled 1.3 billion pesos
(Adds quote, details, background)

BUENOS AIRES, Nov 3 (BestGrowthStock) – Telecom Argentina SA
(TEC2.BA: )(TEO.N: ) posted a higher third-quarter profit (Read more your timing to make a profit.), helped by
subscriber growth in advanced services such as high-speed
Internet.

One of Argentina’s top telephone companies, Telecom Argentina
reported on Thursday a third-quarter net profit of 444 million
pesos ($110.2 million), up from the 303 million pesos reported a
year earlier.

The result was slightly above market expectations. A Reuters
poll of five analysts had forecast net profit at a median of 440
million pesos, with estimates ranging from 423 million to 489
million.

“Broadband, the mobile phone division, and sales of added
value products were the main revenue drivers,” Chief Executive
Franco Bertone told a press conference.

The company is controlled by Telecom Italia (TLIT.MI: ) and an
Argentine investor group run by the Werthein family.

Argentina’s antimonopoly watchdog dropped an antitrust
investigation of Telecom Italia and Spain’s Telefonica SA
(TEF.MC: ) last month, after reaching an agreement with the
companies aimed at limiting Telefonica’s influence over Telecom
Argentina. [ID:nN13281606]

The watchdog ordered Telecom Italia to sell its holdings in
Telecom Argentina last year following a two-year probe that was
launched when Telefonica invested in the Italian company.
($1 = 4.03 pesos on Sept. 30)
(Reporting by Jorge Otaola; Writing by Eduardo Garcia; Editing
by Derek Caney)

UPDATE 1-Telecom Argentina 3rd-qtr net rose to 444 mln pesos