Informed Sources: Spanish Company "Telefonica" Seeks to Sell Its Operations in Mexico to a Company in Dubai
July 25, 202552 ViewsRead Time: 1 minutes
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Three informed sources said that the Spanish telecommunications giant "Telefonica" is in exclusive talks to sell its operations in Mexico to "Beyond One," based in Dubai, which owns "Virgin Mobile" Mexico.
The sources mentioned that the deal is not confirmed and requested not to disclose their identity because the matter is still confidential.
A research note published by Kepler in June stated that the value of Telefonica's unit in Mexico could reach 520 million euros.
Beyond One had acquired Virgin Mobile Latin America, a mobile network operator for customers in Mexico and Colombia, in 2023 for an undisclosed amount.
One of the sources mentioned that the establishment of a new antitrust agency, according to a proposal from Mexico, may delay any deal in the telecommunications sector as it would create uncertainty regarding regulatory approvals. The proposed agency would have authority over telecommunications companies.
Telefonica indicated that it wants to focus on its four core markets, which are Brazil, Britain, Germany, and Spain.
The sources mentioned that the deal is not confirmed and requested not to disclose their identity because the matter is still confidential.
A research note published by Kepler in June stated that the value of Telefonica's unit in Mexico could reach 520 million euros.
Beyond One had acquired Virgin Mobile Latin America, a mobile network operator for customers in Mexico and Colombia, in 2023 for an undisclosed amount.
One of the sources mentioned that the establishment of a new antitrust agency, according to a proposal from Mexico, may delay any deal in the telecommunications sector as it would create uncertainty regarding regulatory approvals. The proposed agency would have authority over telecommunications companies.
Telefonica indicated that it wants to focus on its four core markets, which are Brazil, Britain, Germany, and Spain.
