By Najat Kantouar
Telefonica agreed to sell its business in Colombia to Millicom Spain for $400 million as the telecommunications company seeks to gradually reduce its exposure to Latin America.
The Spanish company said late Wednesday that the price represents 67.5% of the share capital of Colombia Telecomunicaciones. The transaction remains subject to regulatory approvals.
Last month, Telefonica agreed to sell its business in Argentina for $1.245 billion.
Write to Najat Kantouar at najat.kantouar@wsj.com
(END) Dow Jones Newswires
March 13, 2025 02:42 ET (06:42 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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