Chile's Entel to Buy Rival GTD

Chile's Entel to Buy Rival GTD

Chile M&A

Chile’s Empresa Nacional de Telecomunicaciones (Entel) plans to acquire rival telecom company GTD Grupo Teleductos, in a deal that is still in the works. The move comes as Entel faces increasingly tough competition from the likes of Movistar, a unit of Spain’s Telefonica, and Claro, owned by Mexico’s America Movil. Entel will incorporate GTD’s assets into its operations and in exchange, GTD shareholders will control a 9.8% stake in Entel, worth some $436.86m using Tuesday’s CLP9,890 ($18.85) clo

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