Tuesday 18 January 2022

Telefonica (Movistar) close to selling Guatemala and El Salvador units

Paying the bills

Latest

Blame the victims: Costa Rica recommends female tourists dress appropriate to avoid sexual assault

QCOSTARICA - On Monday, Costa Rica President Carlos Alvarado...

The Secrets of Costa Rican Students: How to Improve Your GPA Without Changing Your Lifestyle

Many students strive to have high GPAs to showcase...

Bill to allow outdoor commerce approved in second debate

QCOSTARICA - Outdoor cafés, bars, restaurants and sodas, among...

In 2021, Costa Rica recovered 52% of prepandemic tourism by air

QCOSTARICA - Costa Rica closed 2021 with the arrival...

Turrialba volcano erupts

QCOSTARICA - The Turrialba volcano erupted Monday evening, at...

I still love Costa Rica… even after they chased me out

A little over a year ago, my wife and...

TSE finishes printing the ballots for the elections in Costa Rica

QCOSTARICA - The Tribunal Supremo de Elecciones de Costa...
Paying the bills

Share

Telefonica, under its brand Movistar and the second largest in terms of users mobile operator in Costa Rica, is close to finalising the sale of its Guatemala and El Salvador units for a total of around EUR 530 million (US$600 million dollars).

The Spanish business daily El Economista reports the company has been working on the divestments since at least September and has accelerated the process in recent days, with Claro (America Movil) cited as the most likely buyer if anti-trust concerns can be overcome via concessions or remedies, said the sources.

- Advertisement -

Another rival present in the region – Millicom, operating regionally under the Tigo brandn – recently confirmed talks with Liberty Latin America on a potential acquisition of its shares.

Telefonica, headquartered in Spain,  has also been exploring the total or partial sale of its Mexican unit for some time but the report suggests negotiations are advancing faster in Central America with operations in Costa Rica, El Salvador, Guatemala, Nicaragua and Panama valued at around US$865 million dollars in total.

Telefónica is the number one Spanish multinational by market capitalisation and one of the largest private telecommunications companies in the world.

- Advertisement -
Paying the bills

Related Articles

How to Avoid “Gringo Pricing” in Costa Rica

EXPAT FOCUS - I want to share this article by Román...

A Black Friday with few buyers in Central America

Q24N (Efe) Striking posters with offers of up to 70% on...

Subscribe to our stories

To be updated with all the latest news, offers and special announcements.

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.