Overview
- Telefónica reported the closing to Spain's CNMV, confirming the €329 million consideration for Otecel.
- The company said the transaction will reduce group net financial debt by approximately €273 million.
- With this deal, proceeds from agreed Latin American asset sales reach roughly €2.277 billion under its portfolio strategy.
- Some related transactions remain subject to national regulatory approvals, including deals in Uruguay and Colombia.
- Otecel serves about five million customers with an estimated 28% market share in Ecuador, and Millicom will operate in the market as Tigo alongside Claro and state-owned CNT.