Published by Global Banking & Finance Review®
Posted on January 29, 2025
1 min readLast updated: January 27, 2026
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Telefonica hires JPMorgan to explore selling its Argentina operations, with potential buyers including Millicom and Iliad.
MADRID (Reuters) - Spanish telecoms company Telefonica has hired investment bank JPMorgan to evaluate a possible sale of Argentina business, newspaper Expansion reported on Wednesday, citing unidentified sources close to the process.
Potential buyers include Luxembourg-based Millicom, which is present in several markets in Latin America, plus French telecoms operator Iliad as well as Argentinian investors, Expansion said.
JPMorgan declined to comment and a spokesperson for Telefonica did not immediately respond to a request for comment.
Telefonica, which replaced CEO Jose Maria Alvarez-Pallete unexpectedly two weeks ago, has carried out a series of asset sales in Latin America over the past two years to reduce debt and to help fund investment in 5G mobile networks.
(Reporting by Inti Landauro; Editing by David Goodman)
Telefonica has hired investment bank JPMorgan to evaluate a possible sale of its Argentina business.
Potential buyers include Luxembourg-based Millicom, French telecom operator Iliad, and various Argentinian investors.
Telefonica is looking to reduce debt and fund investments, having carried out a series of asset sales in Latin America over the past two years.
Telefonica unexpectedly replaced CEO Jose Maria Alvarez-Pallete two weeks ago.
JPMorgan declined to comment on the situation, and a spokesperson for Telefonica did not immediately respond to requests for comment.
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