Friday 18 June 2021

Purchase of Movistar (Telefonica) in Costa Rica Approved

The Superintendencia de Telecomunicaciones (Sutel) – Superintendence of Telecommunications – authorized the purchase of Telefonica in Costa Rica (operating under the Movistar brand) by Millicom.

The sale of Telefonica’a shares in Costa Rica to Millicom was announced in February 2019.

For the authorization, the Sutel argued in the resolution that “… There are no indications of the existence of potential anti-competitive effects derived from the acquisition of 100% of the social capital of Telefónica CR by Millicom.”

- Advertisement -

The parties are able to proceed with the transfer of shares and contracts of concession of the radio electric spectrum frequencies that must be done before the Ministry of Science and Technology and Telecommunications (Micitt).

The purchase, however, should not represent any disruption or affectation for Telefonica’s current customers.

Spain’s Telefonica began at the beginning of 2019 negotiating the sale of its Central American operations in a move that should allow the company to focus on core regions and reduce its large debt.

Since its announcement, the company was able to sell its units in Costa Rica, El Salvador, Guatemala, Nicaragua and Panama. Buyers include Millicom (operating under the Tigo brand) and Mexico’s America Movil (the Claro brand).

- Advertisement -

- Advertisement -

FACT CHECK:
We strive for accuracy in its reports. But if you see something that doesn’t look right, send us an email. The Q reviews and updates its content regularly to ensure it’s accuracy.

Related Articles

Which cable company offers the best quality of residential Internet?

QCOSTATICA - According to the Sutel, Tigo, Cabletica, ICE, and Telecable...

Fiber optic Internet coverage grew 146% in one year

QCOSTARICA - The coverage of fiber optic networks used to bring...

MOST READ

Bribed with cars, sexual favors and money in exchange for road works contracts

QCOSTARICA - The OIJ uncovered a big pothole on Monday when it was announced that public officials had allied with construction companies that, apparently,...

College of Physicians negotiates donation of a million and a half vaccines against covid-19

QCOSTARICA - This week there could be very good news for the country in the fight against the coronavirus pandemic if the College of...

Tourism’s path to recovery

QREPORTS - A new travel trends research paper released today by Tripadvisor®, the world's largest travel guidance platform, reveals that vaccine rollouts globally are...

Central America is back in the news for the wrong reasons, Costa Rica is once again the exception

QCOSTARICA - Osta Rica has been the epicenter of regional diplomacy in recent days. The successive visits of the Secretary of State of the...

Today’s Vehicle Restriction: June 12, “ODDS”

Today, Saturday, June 12, only ODDS can circulate. The measure is countrywide and applied between 5:00 am and 9:00 pm, save for those under the...

Vaccination commission endorses J & J vaccine, says no to Sinovac

QCOSTARICA - The Comisión Nacional de Vacunación y Epidemiología (CNVE)  - National Vaccination and Epidemiology Commission - endorsed the use of Johnson and Johnson...

Lack of space on Racsa’s hard drive paralyzed immigration consultation at the airport this Monday

RICO's DIGEST - We've all had this happen, your computer's hard drive is full and your computer crashes. But we are not the Radiográfica...

Heavy downpours generated the first phreatic eruption of this year at the Turrialba volcano

QCOSTARICA - Several residents of La Pastora, La Central and Monte Calas, in the vicinity of the Turrialba volcano, heard a loud rumbling early...

Nathalie Álvarez Mesén’s feature debut, Clara Sola, ready for the Cannes Directors’ Fortnight

Q ENTERTAINMENT (CINEUROPA) Nathalie Álvarez Mesén’s debut feature, Clara Sola, is ready to take part in this year’s Directors’ Fortnight at the Cannes Film...

WANT TO STAY UP TO DATE WITH THE LATEST!

Get our daily newsletter with the latest posts directly in your mailbox. Click on the subscribe and fill out the form. It's that simple!

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.