Latest news with #MillicomInternational
Time of India
6 days ago
- Business
- Time of India
Spain's Telefonica sells its Ecuador unit at $380 million
MADRID: Spanish telecom company Telefonica said late on Friday it had reached an agreement with Luxembourg-based Millicom International to sell 100% of the shares of its Ecuador unit Otecel S.A. for 380 million dollars. The transaction aimed to further reduce the Spanish company's exposure to Latin America, after it recently sold its businesses in Uruguay, Peru and Argentina to focus on Spain, Brazil, Britain and Germany. Telefonica had agreed a month ago to also sell its Uruguayan unit to Millicom, which operates telecom companies all over Latin America under the brand Tigo. The company had to book an accounting loss of 1.7 billion euros ($1.9 billion) during the last quarter from the disposals in Peru and Argentina.
Time of India
22-05-2025
- Business
- Time of India
Telefonica sells Uruguay unit to Millicom for $440 million
MADRID: Spanish telecom company Telefonica said on Wednesday it agreed to sell its Uruguayan unit for $440 million to Luxembourg-based Millicom International as part of its strategy to exit Spanish-speaking Latin America. At the end of the transaction Millicom, which operates telecom companies all over Latin America under the brand Tigo, will buy 100% of Telefonica's Uruguay unit, Telefonica said in a statement. Telefonica did not specify whether the sale will imply a capital impairment on its accounts. The Spanish company has recently sold its business in Peru and Argentina as it opted to focus on Spain , Brazil, Britain and Germany. The company had to book an accounting loss of 1.7 billion euros ($1.93 billion) during the last quarter from the disposals in both South American countries.
