Market: Argentina

Extraordinary tax evasion control executive order

On June 1, 2000 the President issued an Extraordinary Executive Order (No. 434/2000) whose principal aim is to help the Federal Administration prevent tax and social security evasion.

01 June 2000

Telefónica SA launches intenational share exchange offer - June 1, 2000

The share swap plan, announced in January, involves an offering of a quarter of the companies' value and will consolidate Telefónica's presence in Latin America.

01 June 2000

Banco Bisel acquires Banco Suquia

The acquisition on May 15, 2000 leaves Banco Bisel SA and Banco Suquía SA as the largest regional bank group of the country.

15 May 2000

Public offering of Telecom Argentina shares completed May 3, 2000

May 3, 2000 saw the completion of a secondary offering of approximately 50 million shares of Telecom Argentina Stet France Télécom SA, aggregating approximately US$270 million, the largest Argentine equity transaction of the year in the capital markets.

03 May 2000

Two out of five for Competition Regulator

'Rating the Regulators' survey conducted by Global Competition Review finds pattern of dissatisfaction with the Comisión Nacional de Defensa de la Competencia across the six key areas surveyed.

01 May 2000

Competition Comission approves supermarket acquisition

On April 28 2000 the Comisión Nacional de Defensa de la Competencia approved, with a very minor condition, the acquisition of control by Logidis SAS (Promodes) of Supermercados Norte SA.

28 April 2000

Cardenas, Cassagne & Asociados opens new office in Madrid

Mr Beltran Gambier is resident partner at the new office, inaugurated on March 16. It aims to bring the firm closer to its Spanish clients.

16 March 2000

Jurisdiction in International Agreements

The Supreme Court of Justice has clarified the rules of jurisdiction of Argentine Courts in international agreements. In re Exportadora Buenos Aires S.A. vs. Holiday Inn’s Worldwide Inc. (20/10/98, La Ley published on March 8, 2000) the Supreme Court adopted a broad interpretation of the rules contained in Sections 1215 and 1216 of the Civil Code.

08 March 2000

SEPI takes over management of Aerolineas Argentinas

On 31 January SEPI (an entity owned by the Spanish government) took over the operation of Aerolineas Argentinas from American Airlines and is now putting the finishing touches on a radical adjustment plan to deal with the US $800 million debt of the airline.

31 January 2000

E-mail and criminal protection

On the grounds of charges brought against reporter Jorge Lanata alleging he had misappropriated information transmitted by email to another person and further proceeded to have it published, Criminal and Appellate Court # IV of this City ruled that the so-called "e-mail" or electronic mail enjoys the same criminal protection as private papers and traditional correspondence. (in re: "Lanata, Jorge s/Desestimación,", 03/04/99, "La Ley" published on 06/16/99).

01 January 2000

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