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Telefonica de Argentina, a unit of Spain's Telefonica, is moving its media buying and planning business this month to Interpublic Group of Cos.' Universal McCann, Buenos Aires, from Havas' Media Planning Group, Buenos Aires. The budget was not disclosed, but Telefonica was one of Argentina's biggest advertisers, spending $57 million in 2001, before the country's economy collapsed at the end of 2001. As the economy recovers, Telefonica and others are boosting ad spending again.
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