Although the company was left out of the Law Bases as subject to privatization, the Executive power will seek to advance a mixed company model, allowing the entry of capital but without losing the majority shareholding, as occurs in the oil company YPF.
Its current president, Mariano Greco, confirmed the government decision during his participation in the “34th ATVC International Conference 2024: Innovation for a sustainable future”which took place in the last few days in Buenos Aires.
“At this moment we are in a process of reorganizing and valuing the assets,” said Greco and announced that the idea is for “private capital to enter the company and the modality will be to go public with a percentage of the Class B shares, Class A are those held by the State.”
The Government will sell a percentage of ARSAT
The official stated that Arsat is “a consolidated company in technological terms” to which “it fundamentally needs to expand and open up”. In this situation, Greek He announced that at that openingto “the idea is to go public.”
“We will put into play the percentage of shares that is most convenient for the valuation of the company,” said the head of the satellite connectivity company.The idea of leaving with 49% for sale. We don’t know exactly what percentage, but yes, the idea is to go out. We are going to put into play the percentage of shares that is most convenient for the valuation of the company,” he confirmed.
The company was created in 2006, during the presidency of Nestor Kirchner, through the law 26,092. “We provide wholesale connectivity to bridge the digital gap between small towns and large cities,” it highlights on its website. Its mission “is to generate conditions of equality in access to telecommunications services throughout the country, connecting Argentines with terrestrial and satellite infrastructure.”
“Our vision is to transform the telecommunications market, generating value for the nation and well-being of Argentines,” adds the state company’s site.
Darío Genua also spoke during the international ATVC conferences.Secretary of Innovation, Science and Technology of the Nation. “We work for a State that ensures a favorable climate for companies to invest in Argentina,” he highlighted.
In addition, he spoke about the objectives of the Argentine ICT industry. “The digital era confronts us with important challenges, among which the accelerated evolution of Artificial Intelligence and its implementation in various sectors of the economy stand out. The phenomenon of digital transformation drives us to redouble our efforts and innovate so as not to be left behind in the race of technological development,” he said.
Source: Ambito
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