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AMOV - America Movil SAB De CV News Story

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Last Trade - 14/05/21

Large Cap
Market Cap £34.74bn
Enterprise Value £59.15bn
Revenue £36.26bn
Position in Universe 256th / 6846

Telefonica in talks to sell Central America operation

Tue 22nd January, 2019 6:52pm
MADRID, Jan 22 (Reuters) - Spain's Telefonica  TEF.MC  is
negotiating the sale of its relatively small Central American
operation in a move that should allow the company to focus on
core regions and reduce its large debt, it said on
    A potential deal, on which no agreement has been reached so
far, could encompass all or some of the company's assets in the
region, which groups operations in Costa Rica, El Salvador,
Guatemala, Nicaragua and Panama.
    Telefonica, which had approaching 43 billion euros ($48.9
billion) of debt at the end of September, declined to name the
potential buyer.
    Spanish newspaper Expansion earlier reported that Telefonica
was in talks with Mexico's America Movil  AMXL.MX  over the sale
of its El Salvador and Guatemala businesses.    
    The sale is small within the context of Telefonica's size
and the disposal of assets that are not important to the group
makes sense, Deutsche Bank analysts said in a note.
    The Central American unit accounted for 4.6 per cent of
Telefonica's group operating income for the first nine months of
last year.
($1 = 0.8797 euros)

 (Reporting by Andres Gonzalez
Editing by Andrei Khalip and David Goodman)
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