Argentina: Considering expansion elsewhere, Telefónica may look at sale of Argentine assets

José María Álvarez-Pallete, president of Spanish telecommunications company Telefonica, has announced that the company will seek a more active participation in the UK market, and will continue with its debt reduction plans by divesting some of its subsidiaries in other markets. Spanish analysts have interpreted this as referring to a partial or total sale of Telefónica Argentina.

The Spanish newspaper The Corner indicated that among the possible divestments that Telefónica may consider would be the sale of Telefónica Argentina “by taking advantage of the investors’ appetite for Latin American assets, […] Telefónica could consider several options, such as network sharing agreements with other operators … “.

 Argentina is the second largest market in Latin America for Telefónica, with almost 6% of the group’s total revenues, and the company is preparing to tender new mobile frequencies in the country, as well as in Costa Rica and Colombia.

Full Content: Urgente 24

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