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Wireless

Telefonica agrees to sell Movistar El Salvador for EUR 125 mln

Friday 15 October 2021 | 10:54 CET | News
Telefonica has announced an agreement to sell its mobile telecommunications assets in El Salvador to UK-based investment fund General International Telecom Limited for a total of USD 144 million (EUR 125 million), a multiple of around 7 times the unit's 2020 OIBDA. In a brief statement to Spain's financial markets regulator CNMV, Telefonica said it currently owns 60 percent of Movistar El Salvador, with the remaining 40 percent in the hands of Corporacion Multi Inversiones (CMI), meaning it will earn a total of around EUR 75 million from the transaction.

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Categories: Mobile & Wireless
Companies: Movistar El Salvador / Telefonica
Countries: El Salvador
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