Telefonica Sells Colombia Business to Millicom For $400 Million

Dow Jones

03/13

By Najat Kantouar

Telefonica agreed to sell its business in Colombia to Millicom Spain for $400 million as the telecommunications company seeks to gradually reduce its exposure to Latin America.

The Spanish company said late Wednesday that the price represents 67.5% of the share capital of Colombia Telecomunicaciones. The transaction remains subject to regulatory approvals.

Last month, Telefonica agreed to sell its business in Argentina for $1.245 billion.

Write to Najat Kantouar at najat.kantouar@wsj.com

(END) Dow Jones Newswires

March 13, 2025 02:42 ET (06:42 GMT)

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