América Móvil and Entel Make Joint Bid for telefónica Chile
SANTIAGO – América Móvil (Claro) and Entel have jointly submitted an offer to acquire Telefónica Chile, according to a report from Bloomberg, signaling a potential major shift in Chile’s telecommunications landscape. The move comes as Telefónica reportedly prepares to divest its operations in the country, following similar sales across Latin America.
The joint bid outlines a division of Telefónica Chile’s business segments, with América Móvil, already operating Clarovtr in Chile, targeting the mobile phone business. Entel, simultaneously occurring, is reportedly interested in acquiring the fixed line operations. This development follows earlier reports in August from Diario Financiero indicating multiple companies were considering offers for Telefónica chile.
While Telefónica has not officially commented on a sale, recent actions suggest a divestment is likely. In May, the company provided a $371 billion CLP loan to Movistar Chile to bolster liquidity. Shortly after, Telefónica Chile CEO Roberto Muñoz Laporte resigned after 13 years, replaced by Juan Vicente Martín Fontelles, who Diario Financiero reported is tasked with overseeing the sale negotiations. Further fueling speculation, Telefónica reactivated the sale of its corporate headquarters in Plaza Italia in July.
Wom is also reportedly considering an offer for a portion of Telefónica’s operations following its recent emergence from Chapter 11 bankruptcy in the United States. Neither Telefónica nor América Móvil responded to Bloomberg’s requests for comment, and Entel did not immediately respond to media inquiries.
