Telecom Argentina S.A.'s rally is largely a macro trade—Argentina got "less risky," not the company fundamentally better... yet. Q3 '25 and 9M '25 results show a real, but limited, operational ...

Developed telecom markets are mature, with almost zero growth, which also keeps new entrants at bay, as the profit pool is stable or declining. New entrants also know incumbents have high barriers to ...