Tag: Telefonica

Friday, May 23rd 2025 - 10:27 UTC
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.
Monday, April 14th 2025 - 09:55 UTC
Telefónica del Perú leaves the country amid bankruptcy proceedings

Telefónica has sold its Peruvian subsidiary, Telefónica del Perú, to Argentine company Integra Tec International for approximately US$ 992,000, marking its exit from the Andean country after three decades. The sale, part of Telefónica's strategy to reduce Latin American exposure, follows divestments in Argentina and Colombia.
Tuesday, February 25th 2025 - 10:03 UTC
Argentine gov't steps in as Telefónica's buy-over results in possible monopoly

The Argentine Administration of President Javier Milei announced Monday that the buy-over of Telefónica de Argentine by Telecom has been handed over to the National Communications Board (Ente Nacional de Comunicaciones - ENACOM) and the National Competition Defense Commission (Commission Comisión Nacional de Defensa de la Competencia - CNCD) to determine if the move constitutes a monopoly.
Thursday, May 13th 2021 - 08:20 UTC
Another Argentine group after Telefónica Uruguay

The Argentine business Olmos Group, the owner of the news channel Crónica TV, Diario Crónica, Evolución Seguros, and other companies in the health care business in Argentina, have begun negotiations to buy over Telefónica's Uruguay, the subsidiary announced Wednesday.
Monday, August 5th 2019 - 09:07 UTC
Telefonica Brazil and three sub contractors responsible of engaging slave labor

Leading mobile company Telefonica Brasil and three firms in its supply chain have been found guilty of engaging in slave labor, authorities said this week. A panel of labor judges in Espirito Santo state ruled that Telefonica, publicly traded as Vivo in Brazil, was guilty after workers toiled in slavery-like conditions during the building of a cellphone tower in 2014.
Friday, September 7th 2012 - 03:06 UTC
Argentine state formalizes its participation in the mobile phone sector

The Argentine government signed the decree on Thursday formalising the decision for the state to begin to control a part of the mobile phone sector, a measure announced on Wednesday by Planning Minister Julio De Vido.
Thursday, September 6th 2012 - 03:16 UTC
Argentina cancels bid and opens 20% of 3G spectrum for government company

Argentina announced the government has rejected the proposals made by bidders seeking to gain a public contract to manage up to 25% of the 3G telecommunications frequency nationwide. Instead the federal government satellite and communications company Arsat will get 20% of the available 3G spectrum.
Monday, August 6th 2012 - 07:21 UTC
Slowdown in Latin America further exposed vulnerabilities of Spain and Portugal

The slowdown in Latin America’s once booming economies could take a heavy toll on profits for Spanish and Portuguese companies whose two-decade investment spree abroad has provided a lifeline during a deepening crisis at home.
Wednesday, May 9th 2012 - 07:39 UTC
Argentina slaps huge fine on Spanish mobile phone service

Argentina has fined Telefonica 43 million dollars for a mobile phone service interruption last month, which threatens to further exacerbate tensions between the two countries.