TEF Telefonica SA

   By Anthony Shevlin 
 

Telefonica SA (TEF.MC) said Tuesday it is negotiating the sale of its Central American assets, although no deal has yet been reached.

The Spanish telecommunications company said the negotiations may result in a "transaction, related to either all or some of those assets" in the region.

Telefonica's statement comes following reports in the Spanish media earlier today.

According to business daily Expansion, the operator is very close to an agreement with Mexico's America Movil SAB de CV (AMX.MX) for the sale of its business in El Salvador and Guatemala for around 800 million euros (909.6 million), while Millicom International Cellular SA (TIGO-SDB.SK) and AT&T Inc. (T) are interested in its Costa Rica, Nicaragua and Panama businesses, which would be sold for around EUR600 million.

Telefonica owns a 60% stake in its Central America business, meaning it would only obtain around EUR840 million if the sales fetch a total of EUR1.4 billion, Expansion reports.

Write to Anthony Shevlin at anthony.shevlin@dowjones.com; @anthony_shevlin

(END) Dow Jones Newswires

January 22, 2019 12:55 ET (17:55 GMT)

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