Spanish telecommunications company Telefónica, represented in Brazil by the Vivo brand, has announced the sale of its Chilean subsidiary for $1.21 billion, marking a significant step in its exit from the Latin American market.
Telefónica, the Spanish telecommunications giant known in Brazil as Vivo, has taken another significant step in its withdrawal from the Latin American market by announcing the sale of its Chilean subsidiary for $1.21 billion (approximately R$ 6.31 billion). This transaction, which involves the transfer of 100% of the shares of Telefónica Móviles Chile S.A. to NJJ Holding SAS and Millicom Spain S.L., highlights Telefónica's ongoing restructuring efforts and its response to a substantial debt burden. The announcement comes amid a broader trend of the company divesting its operations in various countries across the region, including recent sales in Guatemala, Costa Rica, Colombia, and Peru.
