Telefonica has relaunched the process to find a buyer for its mobile telecommunications assets in Costa Rica a couple of months after Millicom pulled out of a deal to acquire the unit. According to a report in business daily El Economista, an unnamed buyer has shown significant interest in the assets and has initiated a due diligence process ahead of a possible offer. The list of potential buyers is topped by America Movil but also includes Liberty Global, Chile’s Entel and Wom (Novator) as well as AT&T, said the report.
The news comes after Millicom aborted its USD 570 million acquisition of Telefonica Costa Rica at the start of May, paving the way for legal action from the Spanish operator. Last November Telefonica announced the “operational spin-off” of its remaining Latin American units as part of a wide-ranging action plan designed to modulate its exposure to the region and focus on its core markets of Spain, the UK, Germany and Brazil.
