Finance
Telefonica sells Chile unit to NJJ, Millicom for $1.2 billion
Published by Global Banking & Finance Review®
Posted on February 10, 2026
1 min readLast updated: February 10, 2026
Quick Summary
Telefonica sold its Chilean mobile unit to NJJ and Millicom for $1.2 billion, aligning with its strategy to focus on core markets.
Telefonica sells Chile unit to NJJ, Millicom for $1.2 billion
Telefonica's Strategic Sale of Chile Unit
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.
Details of the Transaction
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.
Financial Implications for Telefonica
Telefonica Chile had net financial debt worth 479 million euros ($571 million) at end-2025, Telefonica added.
Market Reaction and Future Outlook
($1 = 0.8393 euros)
(Reporting by David Latona; Editing by Andrei Khalip)
Key Takeaways
- •Telefonica sold its Chile unit to NJJ and Millicom.
- •The sale aligns with Telefonica's strategic focus shift.
- •The deal is valued at $1.22 billion with potential additional payments.
- •Telefonica is reducing its presence in Latin America.
- •The transaction impacts Telefonica's financial debt.
Frequently Asked Questions about Telefonica sells Chile unit to NJJ, Millicom for $1.2 billion
1What is a telecommunications unit?
A telecommunications unit refers to a company or division that provides communication services, such as mobile and internet services, to consumers and businesses.
2What is an investment?
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.
3What is market reaction?
Market reaction is the response of investors and traders to news or events that impact the financial markets, often reflected in stock price movements.
4What is a fixed value in a transaction?
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.
