According to U.S. financial advisory services company Bloomberg, telecommunications operator Liberty Latin America (LLA) is considering the acquisition of Telefónica’s businesses in Colombia and Ecuador, where Telefónica operates under the brand name Movistar. The companies have already engaged in talks over a potential deal.
It is important to highlight that the Colombian government holds a 32% stake in Movistar Colombia.
In November 2019, Telefónica decided to seek new alternatives for its assets in Latin America. The Spanish company intends to reduce its presence in the region and is open to several options, among which stake reduction and sell-offs are included.
In July 2020, Liberty Latin America purchased Movistar Costa Rica from Telefónica, the estimated amount of the transaction being USD 500 million.