Telefonica Sells CentAm Stake to Pay Debt

May 1, 2013

Spain’s Telefonica has agreed to sell 40% of its assets in El Salvador, Guatemala, Nicaragua and Panama to Guatemalan family-owned conglomerate Corporacion Multi Inversiones for $500m, it says, to raise funds to pay off debt. The process will involve creating a holdco for the assets in these countries, and...

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“The crisis has been a setback for reserve diversification."

Jan Dehn, Ashmore Investment Management