Telefónica sells subsidiary from El Salvador to Grupo Atlántida – La Página newspaper

In a statement released this Friday, the telecommunications operator Telefónica indicated that its subsidiary Telefónica Centroamérica Inversiones, of which it controls 60% (the remaining 40% is Corporación Multi Inversiones) has reached an agreement with General International Telecom Limited, to the sale of all the capital stock of Telefónica Móviles el Salvador, of which it owns 99.3%.

The price of the Telefónica El Salvador transaction is for 144 million dollars, about 125 million euros. The price of the transaction has been set at a value of seven times the operating result before amortization that Telefónica El Salvador achieved in 2020.

On the buyer’s side, the transaction has been structured by affiliates of Grupo Atlántida, entities that financially support the acquisition.

The operation, still pending the pertinent regulatory approvals, is part of the asset portfolio management policy of the Telefónica group, based on a strategy of value creation and return on capital optimization.

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