Latest news with #MarcMurtra
Reuters
4 days ago
- Business
- Reuters
Spain's Telefonica reshapes Latin America strategy after leadership change
June 16 (Reuters) - Spanish telecom giant Telefonica ( opens new tab has accelerated plans to reduce its exposure in Spanish-speaking Latin America, where profitability is lower than capital cost, to focus instead on four main markets under new CEO Marc Murtra. Following both an ownership and a management shake-up in the last year, Telefonica has withdrawn from many countries in southern America, building on a process that began with the sale of some Central America units in 2019. Telefonica's market focus will now be on the four core businesses of Brazil, Britain, Germany and Spain, and Murtra plans to introduce a new strategy for the company in the second half of this year. Below is a list of developments within the Group's Latin America operations: Telefonica has hired investment bank JP Morgan (JPM.N), opens new tab to sell its Mexican business, newspaper Cinco Dias reported in February, citing unidentified financial sources. Asked about the process during an earnings call in February, Murtra said he would not comment on deals until they were signed. Telefonica said it was selling its unit in Argentina to Telecom Argentina ( opens new tab for $1.245 billion. In March, Argentina's presidential office suspended the acquisition on anti-trust concerns. Telefonica agreed to sell its Peruvian unit in April to Argentina's Integra Tec International for about 900,000 euros ($1.04 million). Its Peruvian unit had filed for bankruptcy protection in February. Telefonica booked 1.7 billion euros in capital losses in the first quarter on the sale of its units in Peru and Argentina. Telefonica has not announced any plans for selling the unit. In February, Jose Luis Rodriguez, the local head of mobile phone unit Movistar said it planned to invest $500 million in the country over two years to expand 4G and 5G services. Telefonica agreed in March to sell its majority stake in the Colombian unit for $400 million to New York-listed Millicom International (MICC.F), opens new tab, which operates telecom companies across Latin America under the brand Tigo. Telefonica has agreed to sell its Uruguayan unit for $440 million to Millicom. Telefonica has agreed with Millicom to sell its unit in Ecuador for $380 million. Telefonica has hired Citi as an adviser to sell its Chilean business, news website El Confidencial reported on May, citing unidentified market sources. Telefonica declined to comment. Telefonica sold its mobile phone unit in El Salvador in 2021 to General International Telecom in a deal valued at $144 million. Telefonica sold its Panama unit in 2019 to Millicom for 536 million euros. Telefonica sold its Costa Rica unit in 2020 to Liberty Latin America, in a $538 million transaction. Telefonica's mobile telecom assets in Nicaragua were sold to Millicom in 2019 acquired for $437 million. Telefonica sold its operations in Guatemala to rival America Movil ( opens new tab for 293 million euros in 2019. Telefonica's Sao Paulo-listed unit Telefonica Brasil ( opens new tab is part of its four "core businesses". The subsidiary carried out several small acquisitions, such as cloud services firms IPNET and IPNET USA, for up to 230 million reais ($41.49 million) last July. ($1 = 0.8639 euros) ($1 = 5.5437 reais)
Yahoo
4 days ago
- Business
- Yahoo
Factbox-Spain's Telefonica reshapes Latin America strategy after leadership change
(Reuters) -Spanish telecom giant Telefonica has accelerated plans to reduce its exposure in Spanish-speaking Latin America, where profitability is lower than capital cost, to focus instead on four main markets under new CEO Marc Murtra. Following both an ownership and a management shake-up in the last year, Telefonica has withdrawn from many countries in southern America, building on a process that began with the sale of some Central America units in 2019. Telefonica's market focus will now be on the four core businesses of Brazil, Britain, Germany and Spain, and Murtra plans to introduce a new strategy for the company in the second half of this year. Below is a list of developments within the Group's Latin America operations: MEXICO Telefonica has hired investment bank JP Morgan to sell its Mexican business, newspaper Cinco Dias reported in February, citing unidentified financial sources. Asked about the process during an earnings call in February, Murtra said he would not comment on deals until they were signed. ARGENTINA Telefonica said it was selling its unit in Argentina to Telecom Argentina for $1.245 billion. In March, Argentina's presidential office suspended the acquisition on anti-trust concerns. PERU Telefonica agreed to sell its Peruvian unit in April to Argentina's Integra Tec International for about 900,000 euros ($1.04 million). Its Peruvian unit had filed for bankruptcy protection in February. Telefonica booked 1.7 billion euros in capital losses in the first quarter on the sale of its units in Peru and Argentina. VENEZUELA Telefonica has not announced any plans for selling the unit. In February, Jose Luis Rodriguez, the local head of mobile phone unit Movistar said it planned to invest $500 million in the country over two years to expand 4G and 5G services. COLOMBIA Telefonica agreed in March to sell its majority stake in the Colombian unit for $400 million to New York-listed Millicom International, which operates telecom companies across Latin America under the brand Tigo. URUGUAY Telefonica has agreed to sell its Uruguayan unit for $440 million to Millicom. ECUADOR Telefonica has agreed with Millicom to sell its unit in Ecuador for $380 million. CHILE Telefonica has hired Citi as an adviser to sell its Chilean business, news website El Confidencial reported on May, citing unidentified market sources. Telefonica declined to comment. EL SALVADOR Telefonica sold its mobile phone unit in El Salvador in 2021 to General International Telecom in a deal valued at $144 million. PANAMA Telefonica sold its Panama unit in 2019 to Millicom for 536 million euros. COSTA RICA Telefonica sold its Costa Rica unit in 2020 to Liberty Latin America, in a $538 million transaction. NICARAGUA Telefonica's mobile telecom assets in Nicaragua were sold to Millicom in 2019 acquired for $437 million. GUATEMALA Telefonica sold its operations in Guatemala to rival America Movil for 293 million euros in 2019. BRAZIL Telefonica's Sao Paulo-listed unit Telefonica Brasil is part of its four "core businesses". The subsidiary carried out several small acquisitions, such as cloud services firms IPNET and IPNET USA, for up to 230 million reais ($41.49 million) last July. ($1 = 0.8639 euros) ($1 = 5.5437 reais) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 days ago
- Business
- Yahoo
Factbox-Spain's Telefonica reshapes Latin America strategy after leadership change
(Reuters) -Spanish telecom giant Telefonica has accelerated plans to reduce its exposure in Spanish-speaking Latin America, where profitability is lower than capital cost, to focus instead on four main markets under new CEO Marc Murtra. Following both an ownership and a management shake-up in the last year, Telefonica has withdrawn from many countries in southern America, building on a process that began with the sale of some Central America units in 2019. Telefonica's market focus will now be on the four core businesses of Brazil, Britain, Germany and Spain, and Murtra plans to introduce a new strategy for the company in the second half of this year. Below is a list of developments within the Group's Latin America operations: MEXICO Telefonica has hired investment bank JP Morgan to sell its Mexican business, newspaper Cinco Dias reported in February, citing unidentified financial sources. Asked about the process during an earnings call in February, Murtra said he would not comment on deals until they were signed. ARGENTINA Telefonica said it was selling its unit in Argentina to Telecom Argentina for $1.245 billion. In March, Argentina's presidential office suspended the acquisition on anti-trust concerns. PERU Telefonica agreed to sell its Peruvian unit in April to Argentina's Integra Tec International for about 900,000 euros ($1.04 million). Its Peruvian unit had filed for bankruptcy protection in February. Telefonica booked 1.7 billion euros in capital losses in the first quarter on the sale of its units in Peru and Argentina. VENEZUELA Telefonica has not announced any plans for selling the unit. In February, Jose Luis Rodriguez, the local head of mobile phone unit Movistar said it planned to invest $500 million in the country over two years to expand 4G and 5G services. COLOMBIA Telefonica agreed in March to sell its majority stake in the Colombian unit for $400 million to New York-listed Millicom International, which operates telecom companies across Latin America under the brand Tigo. URUGUAY Telefonica has agreed to sell its Uruguayan unit for $440 million to Millicom. ECUADOR Telefonica has agreed with Millicom to sell its unit in Ecuador for $380 million. CHILE Telefonica has hired Citi as an adviser to sell its Chilean business, news website El Confidencial reported on May, citing unidentified market sources. Telefonica declined to comment. EL SALVADOR Telefonica sold its mobile phone unit in El Salvador in 2021 to General International Telecom in a deal valued at $144 million. PANAMA Telefonica sold its Panama unit in 2019 to Millicom for 536 million euros. COSTA RICA Telefonica sold its Costa Rica unit in 2020 to Liberty Latin America, in a $538 million transaction. NICARAGUA Telefonica's mobile telecom assets in Nicaragua were sold to Millicom in 2019 acquired for $437 million. GUATEMALA Telefonica sold its operations in Guatemala to rival America Movil for 293 million euros in 2019. BRAZIL Telefonica's Sao Paulo-listed unit Telefonica Brasil is part of its four "core businesses". The subsidiary carried out several small acquisitions, such as cloud services firms IPNET and IPNET USA, for up to 230 million reais ($41.49 million) last July. ($1 = 0.8639 euros) ($1 = 5.5437 reais) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
06-06-2025
- Business
- Yahoo
Spain's $5B Telecom Breakup? Telefonica and Masorange Plot Bold Move on Vodafone
Telefonica (NYSE:TEF) and Masorange have kicked off informal discussions about a potential deal for Vodafone Spain, according to people familiar with the matter. While nothing is on paper yet, insiders say one idea being explored involves splitting up Vodafone Spain's fixed-line and mobile or enterprise operationspossibly to dodge antitrust objections. Masorange could also take over the Lowi brand, Vodafone's low-cost unit. The backdrop? Pressure is mounting in Spain's crowded telecom market, and consolidation is starting to look like the only way out. Warning! GuruFocus has detected 9 Warning Signs with TEF. Masorange, formed in 2024 from the 18.6 billion merger between Masmovil and Orange's local business, is now the country's biggest operator by customer base. Vodafone Spain, meanwhile, was acquired by Zegona for 5 billion last year but has continued to strugglepartly due to an aging fiber-optic network. It's already working with Masorange on a fiber venture, but a broader breakup-and-buyout could redraw Spain's telecom map. Telefonica still dominates business services, but Chairman Marc Murtra has made it clear: Europe's telecom players need to bulk up or risk getting left behind. But even if the strategic logic lines up, execution won't be easy. Telefonica's credit rating is hanging at the edge of investment-grade, leaving little room for risky moves. Murtra has said he won't jeopardize that rating, though some sources say creative funding structures might still be possible. A throwback to the 2020 Brazil playbookwhere Telefonica and two rivals jointly carved up Oi SAcould help navigate regulatory obstacles. For now, there's no formal proposal, but if talks progress, this could become one of the boldest moves in European telecom in years. This article first appeared on GuruFocus. Sign in to access your portfolio
Bloomberg
29-05-2025
- Business
- Bloomberg
Telefonica Chairman's M&A Ambitions Face Old Debt Challenges
Telefonica SA 's new chairman is running into an old problem. After the better part of a decade focused on cutting debt, the company still doesn't have the cash it needs to chase deals and growth. The Spanish phone carrier is looking for diverse ways to simplify its structure by buying out partners in joint ventures and reorganizing certain operations to make itself more flexible for potential deals in the European telecommunications industry. Executive Chairman Marc Murtra, who took over in January, has ordered a strategic review to be unveiled in the second half of the year.
