Finance
Telefonica hires Citi to sell Chilean business, El Confidencial reports
Published by Global Banking & Finance Review®
Posted on May 12, 2025
1 min readLast updated: January 23, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on May 12, 2025
1 min readLast updated: January 23, 2026
Telefonica has engaged Citi to sell its Chilean business, marking a strategic shift to focus on more profitable markets like Spain and Brazil.
MADRID (Reuters) - Spanish telecoms company Telefonica has hired Citi as an adviser to sell its Chilean business, news website El Confidencial reported on Monday, citing unidentified market sources.
Telefonica would book a capital loss on the sale, the news website added.
Telefonica has withdrawn from many markets in Spanish-speaking Latin American countries where returns were lower than capital cost, opting to focus on Spain, Brazil, Britain and Germany.
The company last month agreed to sell its Peruvian operation at a fraction of its acquisition price 30 years ago.
(Reporting by Inti Landauro; Editing by David Goodman)
Telefonica's decision to hire Citi for selling its Chilean business, indicating a strategic focus shift.
Telefonica is selling due to lower returns in Latin America, focusing on more profitable markets.
Telefonica is concentrating on Spain, Brazil, Britain, and Germany.
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