Telefónica to Sell Assets in Central America

The Spanish company Telefónica S.A. informed that it is in a negotiation process to sell its assets in the region.

Wednesday, January 23, 2019

The European company, with subsidiaries in El Salvador, Guatemala, Costa Rica, Nicaragua and Panama, explained that the sale of its assets in the region "could result in a transaction, both for the total and for some of those assets."

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From the Telefónica S.A. press release:

Madrid, January 22, 2019. TELEFÓNICA, S.A. ("Telefónica" or the "Company") in accordance with the provisions of securities market legislation, communicates the following:

Regarding the news published in the media today, Telefónica announces that, within the framework of its portfolio management policy based on a strategy of value creation and strategic positioning, it is in the process of negotiating the sale of its assets in Central America, which could result in a transaction, both for the total and for some of these assets. Up to date no agreement has been reached.

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More on this topic

Telefonica Purchase Completed in Panama

August 2019

Millicom announced that it completed the acquisition of Telefonica Moviles Panama, S.A. through its subsidiary Cable Onda.

In February of this year, Telefónica announced that it had reached an agreement with Millicom S.A. for the sale of all of the company's shares in Panama.

Telefonica Completes Sale of Assets in Nicaragua

May 2019

The company reported that it has transferred the entire share capital of Telefónica Celular de Nicaragua, S.A. to Millicom International Cellular, S.A., for a price of $437 million.

On May 16, Telefónica S.A. reported that "Following the communication published on February 20, 2019 (with entry registration number 274959), Telefónica announces that once the relevant regulatory approvals have been obtained, Telefónica Centroamérica Inversiones, S.L.., a company owned, directly and indirectly, 60% by Telefónica and 40% by Corporación Multi Inversiones, has today transferred the entire share capital of Telefónica Celular de Nicaragua, S.A. to Millicom International Cellular, S.A. for a price of 437 million dollars, approximately 390 million euros at the current exchange rate". Consult Telefónica's full press release.

Telefonica Sells Its Assets to Millicom

February 2019

The company reported that it signed an agreement with Millicom S.A. for the sale of all shares of Telefonica Costa Rica, Nicaragua and Panama, closing the transaction at $1.65 billion.

After the company reported in late January 2019 that for $648 million it had agreed to sell to America Móvil all the shares of Telefonica Guatemala and 99.3% of Telefonica El Salvador, it now announced that it had completed the sale process of the entire operation in Central America.

Telefónica Starts Selling Assets in the Region

January 2019

The company reported that it sold all the shares of Telefónica Guatemala and 99.3% of Telefónica El Salvador to América Móvil for $648 million.

The Spanish company stated that the closing of the sale of Telefónica Guatemala took place on January 24, however, the sale of Telefónica El Salvador is subject to the relevant regulatory conditions.

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