Telefónica sells its Chilean subsidiary and deepens its exit from Latin America
The Spanish telecommunications company Telefónica took another step in its exit from Latin America, previously a preferred market, by announcing this Tuesday the sale of its subsidiary in Chile for 1.215 billion dollars (1.030 billion euros). Telefónica "has transferred 100% of the share capital of Telefónica Móviles Chile S.A. ('Telefónica Chile') to [...]
TL;DR
- Telefónica sold its Chilean subsidiary, Telefónica Chile, for $1.215 billion (1.030 billion euros).
- The sale to NJJ Holding SAS and Millicom Spain S.L. is part of Telefónica's strategy to exit Latin America.
- The company has recently divested subsidiaries in Guatemala, Costa Rica, Colombia, and Peru.
- Telefónica plans to focus on its core markets: Spain, Germany, the UK, and Brazil.
- The company aims for total savings of up to 2.8 billion euros by 2028 and 3 billion euros by 2030.
- A plan launched at the end of 2025 anticipated the departure of at least 4,500 employees.