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Telefonica de Argentina S.A. Commences a Cash Tender Offer For Its 8.850% Conversion Notes Due August 2011, 9.125% Notes Due November 2010 and 8.850% Notes Due August 2011.

Article Excerpt
Telefonica de Argentina S.A. (the "Company") announced today that it is offering to purchase for cash its outstanding notes listed below (collectively, the "Notes") for an aggregate purchase price of up to US$50 million in the U.S. Dollar Offer (defined herein) (the "Maximum U.S. Dollar Tender Amount") and up to Argentine Ps.200 million in the Argentine Peso Offer (defined herein) (the "Maximum Argentine Peso Tender Amount") (each a "Maximum Tender Amount" and, together, the "Maximum Tender Amounts"). The Company's cash tender offers comprise an offer to purchase up to the Maximum U.S. Dollar Tender Amount (the "U.S. Dollar Offer") and an offer to purchase up to the Maximum Argentine Peso Tender Amount (the "Argentine Peso Offer" and, together with the U.S. Dollar Offer, the "Offers"). The Offers for each series of Notes will expire at 11:59 p.m., New York City time, on October 22, 2009 (12:59 a.m. Buenos Aires time, on October 23, 2009), unless extended by the Company with respect to either or both Offers (such date and time, as the same may be extended, the "Expiration Date"). The Offers are governed by the times and dates referred to herein based on New York City time. Times and dates based on Buenos Aires time are provided solely for your convenience.



Aggregate Argentine Acceptance Principal U.S. Dollar Peso Title of CUSIP/ISIN Priority Amount Tender Offer Tender Offer Security Numbers Level Outstanding Consideration Consideration (1) (1)(2) 8.850% Conversion 879378AL1 Notes due US879378AL14 1 US$28,576 US$1055.00 US$1071.00 August 2011 9.125% Notes 879378AJ6 due November US879378AJ67 2 US$195,507,000 US$1045.00 US$1061.00 2010 8.850% Notes due 879378AK3 August US879378AK31 3 US$134,644,000 US$1055.00 US$1071.00 2011 Total U.S. Total Title of CUSIP/ISIN Early Tender Dollar Argentine Peso Security Numbers Premium(1)(3) Consideration(1) Consideration (1)(2) 8.850% Conversion 879378AL1 Notes due US879378AL14 US$15.00 US$1070.00 US$1086.00 August 2011 9.125% Notes 879378AJ6 due November US879378AJ67 US$15.00 US$1060.00 US$1076.00 2010 8.850% Notes due 879378AK3 August US879378AK31 US$15.00 US$1070.00 US$1086.00...

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