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Finance

Telefonica hires Citi to sell Chilean business, El Confidencial reports

Published by Global Banking & Finance Review

Posted on May 12, 2025

1 min read

· Last updated: January 23, 2026

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Telefonica hires Citi to sell Chilean business, El Confidencial reports

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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 Engages Citi for Chilean Business Sale Strategy

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Telefonica has withdrawn from many markets in Spanish-speaking Latin American countries where returns were lower than capital cost, opting to focus on Spain, Brazil, Britain and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)

Key Takeaways

Telefonica hires Citi to sell its Chilean business.
The sale may result in a capital loss for Telefonica.
Telefonica is focusing on more profitable markets.
The company recently sold its Peruvian operations.
Telefonica is withdrawing from less profitable regions.

Frequently Asked Questions

What is the main topic?

Telefonica's decision to hire Citi for selling its Chilean business, indicating a strategic focus shift.

Why is Telefonica selling its Chilean business?

Telefonica is selling due to lower returns in Latin America, focusing on more profitable markets.

What markets is Telefonica focusing on?

Telefonica is concentrating on Spain, Brazil, Britain, and Germany.

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