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General

Telefonica mulling sale of Ecuador unit for up to EUR 800 mln - report

Friday 6 September 2019 | 11:39 CET | News

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Telefonica has begun exploring the sale of its Ecuador unit as part of an ongoing process to reduce its debt pile and boost its share price, according to unnamed sources cited by El Economista. Talks with potential buyers have yet to begin but Telefonica is examining market conditions and values the unit at between EUR 600 million and EUR 800 million, said the report, which mentions Millicom (Tigo) and Entel Chile as possible bidders. Telefonica Ecuador posted revenues of EUR 252 million and an OIBDA of EUR 75 million in the first 6 months of 2019.

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Categories: General
Companies: Movistar Ecuador / Telefonica / Telefonica Ecuador
Countries: Ecuador / Spain
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