MercoPress. South Atlantic News Agency

Telefónica sells Movistar Uruguay to Millicom

The Spanish company Telefónica, through its subsidiary Telefónica Hispanoamérica, sold its Movistar Uruguay business to Millicom, a Luxembourg-based company operating under the Tigo brand, as part of its strategy to reduce its presence in Latin America. The transaction, announced to the Spanish National Securities Market Commission (CNMV), is now subject to regulatory approvals. It is also a part of Telefónica's asset divestment plan, following sales in Argentina, Colombia, and Peru in 2024, totaling over US$2 billion. Read full article