Deal with the privatization of the Argentine industry phone. Focuses on the restructuring aspect. Commercial banks owned by Argentina's sovereign debt trading at a deep discount to face value. The question is whether banks should exchange their sovereign debt into common or preferred shares of Telefonica. The objective is to evaluate the choice between bad investments are measured at the point of decision making, analyzing how these different securities may look in the future. "Hide
by Steven R. Fenster, Rajiv Gharalia Source: Harvard Business School 23 pages. Publication Date: 05 Feb 1992. Prod. #: 292039-PDF-ENG