阿根廷电信美股招股说明书(2026-02-10版)

Filed Pursuant to Rule424(b)(7)File No.333-280720 The information in this preliminary prospectus supplement and the accompanying prospectus, relating to an effectiveregistration statement under the Securities Act of 1933, as amended, is not complete and may be changed. This preliminaryprospectus supplement and the accompanying prospectus are not an offer to sell these securities and we are not soliciting anoffer to buy these securities in any jurisdiction where the offer or sale is not permitted. PRELIMINARY PROSPECTUS SUPPLEMENT(To Prospectus dated July8, 2024) SUBJECT TO COMPLETION, DATED FEBRUARY 10, 2026Telecom Argentina S.A. 20,252,745 ClassB Shares of Common Stockin the form of American Depositary SharesOffered by the Selling Shareholder This prospectus supplement relates to the proposed resale or other disposition of 20,252,745 class B shares of TelecomArgentina common stock, nominal value P$1.00 per share (the “common stock”) underlying American Depositary Shares (“ADSs”),by the selling shareholder identified in this prospectus supplement. Each ADS represents five Class B common shares, for an offeringof 4,050,549 ADSs. We are not selling any shares of our common stock under this prospectus supplement and will not receive anyproceeds from the sale of the common stock by the selling shareholder. Our class B shares have been authorized for public offering in Argentina by the Argentina Nacional Securities Commission(Comisión Nacional de Valores) (the “CNV”) and are listed and traded in Bolsas y Mercados Argentina (“ByMA”). Our AmericanDepositary Receipts (“ADRs”) are not registered with the CNV or listed or traded in ByMA. The CNV has not approved ordisapproved of the ClassB Shares offered hereby. NOTHING IN THIS PROSPECTUS SUPPLEMENT CONSTITUTES AN OFFER OF SECURITIES FOR SALE INARGENTINA. THE ADRS HAVE NOT BEEN, AND WILL NOT BE, REGISTERED WITH THE CNV AND THE ADRSMAYNOT BE OFFERED OR SOLD WITHIN ARGENTINA. ADSs representing our class B shares are currently listed on the New York Stock Exchange, or the “NYSE,” under thesymbol “TEO.” Each ADS represents five class B common shares. The last reported sale price of our ADSs on the NYSE onFebruary9, 2026 was $12.59 per ADS. Investing in our common stock involves risks that are described in the “Risk Factors” section beginning on pageS-31of this prospectus supplement and in our reports filed with the U.S. Securities and Exchange Commission (the “SEC”) that areincorporated by reference in this prospectus supplement and that you should consider before you make an investment in ourcommon stock offered in this prospectus supplement and the accompanying prospectus. (1)See “Underwriting” beginning on pageS-56 of this prospectus supplement for additional information regarding underwritingcompensation.(2)We will not receive any proceeds from this offering. See “Use of Proceeds.” Neither the SEC nor any state securities commission has approved or disapproved of these securities or passed uponthe accuracy or adequacy of this prospectus supplement. Any representation to the contrary is a criminal offense. The underwriters have an option to buy up to 607,582 additional ADSs from the selling shareholder to cover sales of ADSs bythe underwriters which exceed the number of ADSs specified above. The underwriters expect to deliver the ADSs through the facilitiesof The Depository Trust Company against payment in New York, New York on or about, 2026. THIS PROSPECTUS SUPPLEMENT IS SOLELY OUR RESPONSIBILITY AND HAS NOT BEEN FILED WITH,REVIEWED OR AUTHORIZED BY THE CNV, AND THEREFORE THE CNV HAS NOT MADE ANY DETERMINATIONAS TO THE TRUTHFULNESS OR COMPLETENESS OF THIS PROSPECTUS SUPPLEMENT.THE TERMS ANDCONDITIONSOF ANY OFFER OF SECURITIES WILL BE NOTIFIED TO THE CNV FOR INFORMATIONALPURPOSES ONLY BUT SUCH NOTICE DOES NOT CONSTITUTE A CERTIFICATION AS TO THE INVESTMENTVALUE OF THE SECURITIES OR OUR SOLVENCY.THIS PROSPECTUS SUPPLEMENT DOES NOT CONSTITUTEAN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY SECURITIES IN ANY JURISDICTION TO ANYPERSON TO WHOM IT IS UNLAWFUL TO MAKE THE OFFER OR SOLICITATION IN SUCH JURISDICTION, NORDOES THIS PROSPECTUS SUPPLEMENT CONSTITUTE AN INVITATION TO SUBSCRIBE FOR OR PURCHASE ANYSECURITIES.INMAKING AN INVESTMENT DECISION, ALL INVESTORS,INCLUDING ANY ARGENTINECITIZEN WHO MAYACQUIRE SECURITIES FROM TIME TO TIME, MUST RELY ON THEIR OWN EXAMINATIONOF US. Joint Bookrunners TABLE OF CONTENTSPROSPECTUS SUPPLEMENT About this Prospectus SupplementS-1Forward-Looking StatementsS-2Presentation of Financial and Other InformationS-4Incorporation of Certain Documents by ReferenceS-9Where You Can Find More InformationS-11SummaryS-12The OfferingS-18The AcquisitionS-19Pro Forma Combined Financial InformationS-22Risk FactorsS-31Selling ShareholderS-49CapitalizationS-50Use of ProceedsS-51TaxationS-52UnderwritingS-57Enforcement of Civil LiabilitiesS-65Legal MattersS-66ExpertsS-67 PROSPECTUS About this Prospectus2Where You Can Find More Informati