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.
The companies formed a joint venture in order to provide financial solutions through mobile phones in Latin America.
Movistar mobile customers in Latin America may use the mobile phone to transfer money to other people, pay bills, purchase airtime and make purchases in shops and stores, among other services.
This is the first time that two leading companies in the payment industry and telecommunications sector have joined forces to create a new company focused on integrating the advantages of accessibility of mobile phones used as a tool for financial solutions associated with payment systems.
Panama imported $190 million worth of mobile phones in 2008, at a time when Claro was not operating in the country and Digicel was just starting.
This industry is growing at rapid pace, fueled by the fast advances in technology, as new features are being added almost constantly: longer lasting batteries, internet navigation, video calls, GPS, etc.
Panama's mobile phone penetration stands at 115%, meaning that each Panamanian uses more than one device on average.
The companies announced that they will attack together some segments of the Central American market.
According to Ericsson's Phone Account manager, Mats Malmstrom, the company "expects an expansion of its Central and Latin American portfolio in 2009, in association with corporations such as Movistar, and offering solutions to users of small and medium enterprises (SMEs) ".
O4Bi is a system that allows to control and manage what a company needs: the complete process of development of works, accounts receivable, treasury, banks, sales and accounting.
O4Bi is a very robust system that allows to control and...
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