Link Securities | On Wednesday Telefónica Hispanoamérica, S.A., a wholly owned subsidiary of Telefónica (TEF), reached an agreement for the sale to Millicom Spain, S.L. of all the shares it holds in Telefónica Móviles del Uruguay S.A., representing 100% of its share capital. The transaction amount (firm value) for this company is $440 million (around €389 million at the current exchange rate), and the corresponding price is subject to the usual adjustments in this type of transaction.
The closing of the transaction is also subject to certain closing conditions, including obtaining the relevant regulatory approvals. This transaction is part of Telefónica’s asset portfolio management policy and is in line with its strategy to reduce exposure to Latin America.
