Telefonica hires JPMorgan to sell Argentina business, Expansion reports
29/01/2025 07:25
MADRID, Jan 29 (Reuters) - Spanish telecoms company
Telefonica TEF.MC has hired investment bank JPMorgan JPM.N
to evaluate a possible sale of Argentina business, newspaper
Expansion reported on Wednesday, citing unidentified sources
close to the process.
Potential buyers include Luxembourg-based Millicom MICC.F ,
which is present in several markets in Latin America, plus
French telecoms operator Iliad as well as Argentinian investors,
Expansion said.
JPMorgan declined to comment and a spokesperson for
Telefonica did not immediately respond to a request for comment.
Telefonica, which replaced CEO Jose Maria Alvarez-Pallete
unexpectedly two weeks ago, has carried out a series of asset
sales in Latin America over the past two years to reduce debt
and to help fund investment in 5G mobile networks.
(Reporting by Inti Landauro
Editing by David Goodman
)
((Inti.Landauro@thomsonreuters.com;))