Telefónica sells América Móvil its subsidiaries in Guatemala and El Salvador

For EFE

As reported Thursday by Telefónica to the National Securities Market Commission (CNMV), the total amount of the transaction amounted to 570 million euros – US $ 648 million (including debt).

Of this amount, € 293 million ($ 331.4 million) corresponds to the sale of Telefónica Guatemala, which closed today, and of the remaining € 277 million ($ 313.3 million) to its Salvadorian subsidiary, a # 39; operation that is still pending to obtain the necessary regulatory authorizations.

The added value that the operator chaired by José María Álvarez-Pallete mainly comes from the sale of the El Salvador branch and will serve to complete the debt reduction targets.

The transaction was carried out by Telefónica Centroamérica Inversiones, a company controlled 60% by Telefónica and 40% by Corporación Multi Inversiones, a Guatemalan business group.

Last Tuesday, Telefónica recognized in a note sent to the CNMV that it was negotiating the sale of its assets in Central America.

In the region, in addition to Guatemala and El Salvador, the operator has operations in Panama, Nicaragua and Costa Rica, according to his latest report on financial results.

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