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Hedge Fund Invests in Argentina

WSJ – As head of a hedge fund that specializes in distressed debt, David Martinez has had lots of practice trying to figure out when an asset’s value has been beaten down so much that it is a buy. He has just made an unusual call: Invest in Argentina.

Mr. Martinez’s investment group, Fintech Advisory, plans to buy Telecom Argentina and related assets for $960 million from Telecom Italia, which is selling its Argentine unit to pay down debt. Mr. Martinez confirmed the purchase Friday.

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