M&AOct 13, 2026, 22:48 UTC

Nippur, Beacon buy Argentina's Metrotel as it prepares to absorb 6M mobile users

What's the deal? Investment funds Blackstone and Riverwood Capital have sold their stakes in Argentine telecoms firm Metrotel to Nippur Fiber Holding and US fund Beacon. Nippur takes a 51% majority stake; Beacon holds the remaining 49%. Terms were undisclosed, with financing support from Banco Itaú.

Who's buying? Nippur is backed by Argentine businessmen Luis María Blaquier, formerly of Arcor, TGS, and Banco Macro, and Sebastián Caputo, previously at Mirgor, Jumbo Retail, and Freddo. Beacon is led by Ralph Booth, who has ties to the local sector through Grupo Clarín, former owner of Cablevisión.

Why now? The deal is timed to a regulatory divestment. As part of Telecom Argentina's acquisition of Telefónica, it must divest mobile customers and infrastructure — and Metrotel is set to absorb 6 million of those subscribers.

What's the endgame? To serve the new customers, Metrotel is negotiating with Telefónica to use its second brand, Tuenti, as a delivery vehicle. The transition also involves transferring spectrum and infrastructure from Telecom Argentina. CEO Sebastián Bardengo, a veteran of Cablevisión and Telecom Argentina, stays on to lead operations.

What could go wrong? Success hinges on finalising the infrastructure transfer agreements and migrating 6 million customers without disruption. Both depend on the broader Telecom-Telefónica deal clearing regulatory review.

The signal: The sale is the latest step in a consolidation that began with the 2017 purchase of Metrotel. By absorbing assets once held by incumbents, the new owners are positioning Metrotel as a fresh competitor in Argentina's mobile market.