Overview

• Telefónica completed the sale of 100% of Telefónica Móviles del Uruguay to Millicom Spain for $440 million after receiving required approvals.
• The company said the closing reduces group net financial debt by about €384 million and fits its plan to pare exposure to Latin America.
• América Móvil disclosed a non-binding agreement with Chile’s Entel to explore a potential joint offer for Telefónica’s assets in Chile, with no price disclosed and discussions ongoing.
• Any offer would require corporate, sectoral and antitrust approvals, including prior authorization from Chile’s Fiscalía Nacional Económica.
• América Móvil said a joint proposal could benefit customers by increasing investment capacity for high-speed networks and broader coverage.