Telefonica close to selling Guatemala and El Salvador units for EUR 530 mln - report

Nieuws Algemeen Centraal Amerika 17 JAN 2019
Telefonica close to selling Guatemala and El Salvador units for EUR 530 mln - report
Telefonica is close to finalising the sale of its Guatemala and El Salvador units for a total of around EUR 530 million, according to unnamed sources cited by Spanish business daily El Economista. The company has been working on the divestments since at least September and has accelerated the process in recent days, with Claro (America Movil) cited as the most likely buyer if anti-trust concerns can be overcome via concessions or remedies, said the sources. Another rival present in the region – Luxembourg-based Millicom – recently confirmed talks with Liberty Latin America on a potential acquisition of its shares.

Telefonica has also been exploring the total or partial sale of its Mexican unit for some time but the report suggests negotiations are advancing faster in Central America where it owns a 60 percent stake in a unit encompassing Costa Rica, El Salvador, Guatemala, Nicaragua and Panama valued at around EUR 760 million in total. 


 

Categories:

Algemeen

Companies:

America Movil,  Claro,  Millicom,  Telefonica,  Liberty Latin America

Regions:

Centraal Amerika

Countries:

El Salvador,  Guatemala

Tags:

M&A buyouts & divestments

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