{"id":133216,"date":"2025-03-14T15:46:44","date_gmt":"2025-03-14T15:46:44","guid":{"rendered":"https:\/\/peraltafinancing.com\/5g-technology\/telefonica-sells-colombian-unit-to-millicom-for-400-million\/"},"modified":"2025-03-14T15:46:44","modified_gmt":"2025-03-14T15:46:44","slug":"telefonica-sells-colombian-unit-to-millicom-for-400-million","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=133216","title":{"rendered":"Telef\u00f3nica sells Colombian unit to Millicom for $400 million"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<h2 class=\"wp-block-heading\">Telefonica recently sold its Argentine operation as part of its strategy to reduce its exposure in Latin America<\/h2>\n<p>Spanish telco Telef\u00f3nica has finalized an agreement to sell 67.5% of its Colombian unit Coltel\u2014\u00a0which it operates under the Movistar brand \u2014 to Millicom for approximately \u20ac368 million euros ($400 million).<\/p>\n<p>In addition to acquiring Telef\u00f3nica\u2019s stake, Millicom has also announced an offer to purchase the remaining 32.5% of Coltel, currently owned by the Colombian government and other investors. If successful, Millicom would gain full control of the company, expanding its footprint in the domestic telecom market.<\/p>\n<p>\u201cThis transaction strengthens our presence in Colombia, and with this strategic move, Millicom reaffirms its ongoing commitment to expanding connectivity and coverage, accelerating digital transformation, and actively contributing to Colombia\u2019s continued growth and competitiveness,\u201d Millicom CEO Marcelo Ben\u00edtez said in a statement.<\/p>\n<p>The deal is part of Telef\u00f3nica\u2019s ongoing efforts to reduce its exposure in Latin America, a strategy that began in 2019 and has since led to multiple asset sales across the region. Earlier this year, <a href=\"https:\/\/www.rcrwireless.com\/20250227\/featured\/telecom-acquires-telefonica\" target=\"_blank\" rel=\"noreferrer noopener\">the company announced the sale of its Argentine subsidiary to rival Telecom Argentina for $1.245 billion<\/a>.<\/p>\n<p>The acquisition of Telefonica Argentina by Telecom Argentina must now be reviewed by Argentina\u2019s telecommunications services watchdog ENACOM and the National Commission for the Defense of Competition (CNDC). ENACOM has already stated that regulatory measures are in place to prevent monopolistic structures, emphasizing the importance of ensuring market competition.<\/p>\n<p>The Argentine government also announced that it will investigate the acquisition to determine whether it creates a monopoly. The Office of the President had released a statement warning that \u201c70% of telecommunications services would be controlled by a single economic group, creating a monopoly formed thanks to decades of state benefits.\u201d<\/p>\n<p>There have also been speculations about possible exits from Mexico and Uruguay, reinforcing Telef\u00f3nica\u2019s shift towards prioritizing its core markets: Spain, Germany, the U.K. and Brazil.<\/p>\n<p>Despite these divestments, Telef\u00f3nica\u2019s Hispam division- which includes all of its Latin American operations except Brazil- remains a significant revenue generator. In 2024, the unit reported 9.032 billion euros in revenue, accounting for 22% of Telef\u00f3nica\u2019s total income and reflecting a 7.8% increase compared to 2023.<\/p>\n<p>The transaction remains subject to regulatory approvals, as well as agreements with Colombia\u2019s Ministry of Finance and Colombian utility firm EPM.<\/p>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>Telefonica recently sold its Argentine operation as part of its strategy to reduce its exposure in Latin America Spanish telco Telef\u00f3nica has finalized an agreement to sell 67.5% of its Colombian unit Coltel\u2014\u00a0which it operates under the Movistar brand \u2014 to Millicom for approximately \u20ac368 million euros ($400 million). In addition to acquiring Telef\u00f3nica\u2019s stake, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":133217,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12020],"tags":[57640,57641,1648,12659,41630,4505],"dealstore":[],"offerexpiration":[],"class_list":["post-133216","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-5g-technology","tag-colombian","tag-millicom","tag-million","tag-sells","tag-telefonica","tag-unit"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Telef\u00f3nica sells Colombian unit to Millicom for $400 million - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=133216\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Telef\u00f3nica sells Colombian unit to Millicom for $400 million - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"Telefonica recently sold its Argentine operation as part of its strategy to reduce its exposure in Latin America Spanish telco Telef\u00f3nica has finalized an agreement to sell 67.5% of its Colombian unit Coltel\u2014\u00a0which it operates under the Movistar brand \u2014 to Millicom for approximately \u20ac368 million euros ($400 million). In addition to acquiring Telef\u00f3nica\u2019s stake, [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fivemor.com\/?p=133216\" \/>\n<meta property=\"og:site_name\" content=\"Som2ny Network\" \/>\n<meta property=\"article:published_time\" content=\"2025-03-14T15:46:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/fivemor.com\/wp-content\/uploads\/2025\/03\/Telefonica-Logo-RCR.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1080\" \/>\n\t<meta property=\"og:image:height\" content=\"810\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/fivemor.com\/?p=133216#article\",\"isPartOf\":{\"@id\":\"https:\/\/fivemor.com\/?p=133216\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\/\/fivemor.com\/#\/schema\/person\/b85e3c3dc0e1daea076524dc8810c371\"},\"headline\":\"Telef\u00f3nica sells Colombian unit to Millicom for $400 million\",\"datePublished\":\"2025-03-14T15:46:44+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/fivemor.com\/?p=133216\"},\"wordCount\":396,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/fivemor.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/fivemor.com\/?p=133216#primaryimage\"},\"thumbnailUrl\":\"https:\/\/fivemor.com\/wp-content\/uploads\/2025\/03\/Telefonica-Logo-RCR.jpg\",\"keywords\":[\"Colombian\",\"Millicom\",\"Million\",\"Sells\",\"Telef\u00f3nica\",\"Unit\"],\"articleSection\":[\"5G Technology\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/fivemor.com\/?p=133216#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fivemor.com\/?p=133216\",\"url\":\"https:\/\/fivemor.com\/?p=133216\",\"name\":\"Telef\u00f3nica sells Colombian unit to Millicom for $400 million - 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