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General

Telefonica sells LatAm assets for USD 500 mln

Tuesday 30 April 2013 | 09:55 CET | News
Telefonica has agreed to sell 40 percent of its assets in El Salvador, Guatemala, Nicaragua and Panama to Corporacion Multi Inversiones (CMI). Telefonica will maintain control of operations in El Salvador, Guatemala, Nicaragua and Panama, which will be merged into a joint venture. The value of the sale – which is subject to obtaining the necessary regulatory approvals – totals USD 500 million.

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Categories: General
Companies: Telefonica
Countries: Latin America
::: add a comment

Comments

The transaction is in line with Telefonica’s strategy of proactive management of its asset portfolio and the initiatives to increase the company’s financial flexibility, the company said. Translated that means they need the cash, they are beeing shafted by various governments in South America and want to lessen the risk.
Chris Izzard @ 30/4/2013 - 10:09


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