Telefónica considering sale of Mexico, Central America units: report


Telefónica is considering selling off some or all of its businesses in Mexico and Central America with the aim of reducing its debt, El Economista reported ,citing sources familiar with the matter.
According to the report, the same sources said discussions are in advanced stages, and a possible agreement could be announced in the coming weeks.
The Spanish newspaper mentioned analysts valuations of €1.1 billion (USD 1.3 billion) to €1.9 billion (USD 2.2 billion) for Mexico, with its 60% stake in the Central American unit worth around €760 million (USD 893 million). This region includes operations in Costa Rica, El Salvador, Guatemala, Nicaragua and Panama.
The company seeks to boost the movement of the company in the stock market, which is at one of the lowest levels reaching €6.83 (USD 8.03).