Telefónica to Sell Stake in Colombia Telecom to Millicom for $400 Million

Telefonica ( (ES:TEF) ) has shared an announcement.

Telefónica Hispanoamérica, a subsidiary of Telefónica, S.A., has agreed to sell its 67.5% stake in Colombia Telecomunicaciones S.A. E.S.P. BIC to Millicom Spain, S.L. for $400 million. This transaction is part of Telefónica’s strategy to reduce its exposure in Hispanoamérica, aligning with its asset portfolio management policy, and is pending regulatory approvals and agreements in Colombia.

More about Telefonica

Telefónica is a major telecommunications company operating in the telecommunications industry, providing a wide range of services including fixed and mobile telephony, broadband, and digital services. The company has a significant presence in Europe and Latin America, focusing on enhancing connectivity and digital transformation.

YTD Price Performance: 8.55%

Average Trading Volume: 1,590,084

Technical Sentiment Consensus Rating: Strong Sell

Current Market Cap: €24.02B

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