Published by Global Banking & Finance Review®
Posted on February 10, 2026
1 min readLast updated: February 10, 2026
Add as preferred source on GoogleTelefonica sold its Chilean mobile unit to NJJ and Millicom for $1.2 billion, aligning with its strategy to focus on core markets.
MADRID, Feb 10 (Reuters) - Spanish telecoms giant Telefonica said on Tuesday it had sold 100% of its mobile unit in Chile to French holding company NJJ and Luxembourg-based Millicom, in line with its strategy of divesting from Latin America to focus on its core markets.
The deal, which was signed and closed on Tuesday, had a fixed value of around $1.22 billion, Telefonica said, with an additional payment of $150 million linked to certain milestones in the Chilean telecoms market.
Telefonica Chile had net financial debt worth 479 million euros ($571 million) at end-2025, Telefonica added.
($1 = 0.8393 euros)
(Reporting by David Latona; Editing by Andrei Khalip)
A telecommunications unit refers to a company or division that provides communication services, such as mobile and internet services, to consumers and businesses.
An investment is the allocation of resources, usually money, into an asset or project with the expectation of generating a profit or income over time.
Market reaction is the response of investors and traders to news or events that impact the financial markets, often reflected in stock price movements.
A fixed value in a transaction refers to a predetermined amount that is agreed upon by the parties involved, which does not change regardless of market conditions.
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