Telefonica advances with Central American operations sale

Telefonica 4

Telefónica is holding negotiations to sell its businesses in Central America. The company’s subsidiaries in Costa Rica, Nicaragua, Panama and Mexico are added to those of Guatemala and El Salvador, for which it had already begun conversations.

According to the company’s official report, it is “in a negotiation process for its Central American assets sale, which could result in a transaction, both for the total and for some of mentioned assets”.

Spanish newspaper Expansion reported on its website that the operator is close to sell its operations in Guatemala and El Salvador for USD 908.7 million. Main interested in acquiring them would be Claro, from the América Móvil Group.

Millicom and AT&T are interested in buying Telefonica’s operations in Costa Rica, Nicaragua and Panama. The company is also studying its total Mexican subsidiary sale . Values were not reported for any of the potential transactions mentioned.