Telefonica sells Chile unit to NJJ, Millicom for $1.2 billion

Telefonica SA

10/02/2026 14:34

MADRID, Feb 10 (Reuters) - Spanish telecoms giant Telefonica said on Tuesday it had sold 100% of its mobile unit in Chile to French holding company NJJ and Luxembourg-based Millicom, in line with its strategy of divesting from Latin America to focus on its core markets.

The deal, which was signed and closed on Tuesday, had a fixed value of around $1.22 billion, Telefonica said, with an additional payment of $150 million linked to certain milestones in the Chilean telecoms market.

Telefonica Chile had net financial debt worth 479 million euros  ($571 million) at end-2025, Telefonica added.

($1 = 0.8393 euros)

 (Reporting by David Latona; Editing by Andrei Khalip)

 ((david.latona@thomsonreuters.com; +34 918 35 68 13;))