Telecom Giant Millicom Takes Over Telefonica Ecuador in $380M Deal: Major Latin American Market Shift

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The multinational Telefónica Hispam reached an agreement with Millicom Spain S. L. for the sale of 100% of its stake in Telefónica Ecuador, the company reported this Friday, June 13, in a statement.

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Telefónica sells its subsidiary in Ecuador to Millicom for $380 million, reinforcing its exit strategy from the Hispanic-American market. Read more Telefónica concretely sells Otecel to Millicom for $380 million in Ecuador in News.es.

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The departure of Telefónica from Ecuador marks a new chapter in the transformation of the Spanish group. The operation, valued at 380 million dollars, is consistent with its strategy of simplification, efficiency and focus in markets of greater return. In parallel, it reinforces the advance of Millicom as key actor in the map of telecommunications of Latin America. Both movements reflect how the sector continues to adjust to the new dynamics of …

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Millicom (Tigo) agreed to buy Movistar Ecuador from Telefónica Hispam for $380 million, motivated by the economic stability and potential of the telecommunications sector.The post What factors influenced Millicom (Tigo) to decide to buy Movistar Ecuador from Telefónica Hispam? appeared first on El Diario.