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By: Walter Bianchi
Argentine mobile phone operator Telecom Personal signed an agreement for a $400 million loan from the World Bank's private sector investment arm to expand its 4G network, the company said in a securities filing on Thursday.
The loan from the International Finance Corp is for six years and comes as telecommunications companies invest in Argentina in preparation for reforms expected to make the market more competitive.
Telecom Personal is part of Telecom Argentina, which is controlled by investment group Fintech with a 68 percent stake.
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