Report of Foreign Issuer (6-k)
August 11 2016 - 6:03AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM 6-K
Report
of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
under the Securities Exchange Act of 1934
For
the month of August, 2016
Commission
File Number: 001-14270
NORTEL INVERSORA
S.A.
(Translation
of registrant’s name into English)
Alicia Moreau
de Justo 50
Piso 11
C1107AAB-Buenos
Aires
Argentina
(Address of principal
executive offices)
Indicate by check mark whether
the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F ☒
Form 40-F ☐
Indicate by check mark if
the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
Yes ☐ No
☒
Indicate by check mark if
the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
Yes ☐ No
☒
NORTEL
INVERSORA S.A.
TABLE
OF CONTENTS
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Item
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1.
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Press release dated August 9, 2016 titled “Nortel Inversora
S.A. announces consolidated first half results for fiscal year 2016”
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NORTEL
INVERSORA S.A.
ANNOUNCES
CONSOLIDATED FIRST HALF RESULTS
FOR FISCAL
YEAR 2016
Buenos Aires,
Argentina, August 9, 2016 - Nortel Inversora S.A.
(NYSE: NTL)
Nortel Inversora
S.A. (“Nortel” or the “Company”) announces consolidated income of AR$ 1,728 million for the six- month
period ending June 30 of fiscal year 2016, of which AR$ 950 million correspond to Nortel as parent company of Telecom Argentina
S.A. (“Telecom”).
The sole material
activity of Nortel is holding 54.74% of the capital stock of Telecom, representing a holding of 55.60% of the voting and economic
rights of Telecom as a result of Telecom’s holding of 15,221,373 shares of treasury stock. The holding of such shares of
treasury stock has been extended for up to three additional years pursuant to the resolution of the Ordinary and Extraordinary
Stockholders Meeting of Telecom held on April 29, 2016.
Relevant
Matters
Summary
of the Resolutions approved by the Ordinary and Extraordinary General Stockholders Meeting held on April 29, 2016
The Ordinary
and Extraordinary General Stockholders Meeting held on April 29, 2016 resolved, among other issues:
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1)
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to
approve the Annual Report and Financial Statements as of December 31, 2015;
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2)
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to
allocate the non-appropriated profit amount as of December 31, 2015, of AR$ 1,891 million,
to the already existing Voluntary Reserve for the Future Distribution of Dividends, authorizing
the Board of Directors to approve the timing and amounts to be deducted from the Voluntary
Reserve for the Future Distribution of Dividends, taking into account the Company’s
future economic and financial conditions, and liquidity, and the subsequent distribution
of such amounts as cash dividends;
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3)
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the
appointment of the members of the Supervisory Committee for fiscal year 2016.
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Dividends
Payment
At its meeting
held on April 29, 2016, pursuant to the authorization granted by the Stockholders Meeting, the Board resolved to deduct an amount
of Argentine Pesos three hundred eighty million (AR$ 380,000,000) from the “Voluntary Reserve for the Future Distribution
of Dividends” and to distribute such amount as cash dividends. That was made available to Nortel shareholders as from May
17, 2016.
Other Relevant Matters
Law N° 26,893
and Decree N° 2,334/13 arranged that dividends and profits, in cash or in any kind – except in shares or installments-
distributed by companies and other entities established in the country made available as from September 23, 2013, were subject
to a withholding tax of 10% excluding dividends perceived by corporations and other local entities, which were still not computable
for the purposes of the tax.
N° 27,260
Law derogated the disposition above mentioned so that as from July 23, 2016 all dividends and profits, in cash or in any kind,
distributed by companies and other entities established in the country (as in the case of Nortel), whatever their subject beneficiary
are not reached by the aforementioned retention.
María de los Angeles Blanco
Salgado
Officer in Charge of Market Relations
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
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Nortel Inversora S.A.
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Date: August 10, 2016
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By:
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/s/
María Blanco Salgado
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Name:
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Maria Blanco Salgado
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Title:
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Officer in Charge of Market Relations
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