Nortel Inversora S.A. (Nortel) is a holding company. The Company was organized by a consortium of Argentine and international investors to acquire a controlling interest in the common stock of Telecom Argentina SA (Telecom Argentina). The Company owns approximately 54.74% of the common stock of Telecom Argentina. Nortel's operations are to invest in companies, other than financial services companies generally, and to invest in Telecom Argentina specifically. Telecom Argentina provides fixed-line public telecommunication services, international long-distance service, data transmission and Internet services in Argentina and through its subsidiaries, mobile telecommunications services in Argentina and Paraguay and international wholesale services in the United States of America. The Telecom Group operates in three segments: Fixed Services, Personal Mobile Services and Nucleo Mobile Services.