Here is a roundup of all the key moves of the year so far:
Telefónica has agreed to sell its mobile business in Uruguay, Telefónica Móviles del Uruguay S.A., to Millicom International for $440 million.
As a result, Millicom will take full ownership and expects the deal to improve cash flow by 2026 through cost savings and better integration with its other operations in the region.
The purchase also brings immediate growth, long-term value, and lower risk due to Uruguay’s stable economy and strong credit rating.
Earlier this year, the telecoms giant sold its Argentine business to Telecom Argentina for $1.25 billion.
At the time, the company said the deal is “part of the group’s strategy to reduce its exposure to the region and continue operating in a sustainable manner to build value for its shareholders.”
In February this year, Telefónica agreed to sell its bankrupt Peruvian unit to Argentina’s Integra Tec International for about $1.02 million (€900k).
Telefónica del Perú, 99.3% owned by the Spanish parent, blamed tax issues and government decisions for its troubles, saying they put it “in competitive disadvantage” even though it was the country’s largest telecom provider.
The move comes after the telecom giant filed for bankruptcy protection for its Peruvian unit , following a €314 million non-cash write-down by the parent company.
In March, the company made the move to sell its 67.5% stake in Coltel to Millicom, continuing its effort to streamline its Latin American business.
The $400 million deal was subject to adjustments based on net debt, working capital and currency rates.
Millicom also bought the remaining 32.5% of Coltel from La Nación and other investors at the same price per share offered to Telefónica.
According to Millicom CEO Marcelo Benitez, the proposed deal strengthens its presence in Colombia”.
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