Amรฉrica Mรณvil and Entel Make Joint Bid for telefรณnica Chile
SANTIAGO โ – Amรฉrica Mรณvil (Claro)โข andโฃ Entel โhave jointly submitted an offer โtoโ acquire Telefรณnica Chile, according to aโฃ report from Bloomberg, โsignaling โa potential major shiftโข in Chile’s โtelecommunications landscape. Theโค move comes โas Telefรณnica reportedly prepares to divest its operations in the country, following similar sales across Latin America.
The joint bid outlines a division of Telefรณnica Chile’sโค business segments, โขwith Amรฉrica Mรณvil,โ already โฃoperating Clarovtr in Chile, targeting the mobile phone business. Entel, simultaneously occurring, is reportedly โinterested in acquiringโ the fixed line operations. This development follows earlier reports inโฃ August from Diario Financiero indicating multipleโฃ companies were โconsidering offers for Telefรณnica chile.
While Telefรณnica has not officially commented on a sale, recent actions suggest a โdivestment is likely. In May, โthe company provided a $371 billion CLPโฃ loanโ to Movistar Chile to bolster liquidity. Shortly after, Telefรณnica Chile โCEO Roberto Muรฑoz Laporte resigned after 13 years, replaced โขby Juan Vicenteโ Martรญn Fontelles, who Diario Financiero โค reported is tasked with overseeing the sale negotiations. Further fueling speculation, Telefรณnica reactivated the sale of its corporate headquarters in Plaza Italia in July.
Wom is also reportedly considering an offer forโ a portion of Telefรณnica’s operations following its recent emergence from Chapterโข 11 bankruptcy in the United States. Neither Telefรณnica nor Amรฉrica Mรณvil responded to Bloomberg’s requests for comment, and โEntel did not immediately respond to media inquiries.
