December 14, 2018 |
Guatemalan agro-industrial group Corporación Multi Inversiones (CMI) could veto Telefónica's planned sale of its businesses in Central America, LatinFinance has heard.
"They are definitely going to have a voice in the process," an M&A banker said, adding that CMI could derail a deal to get a better return on its investment.
CMI, which has renewable energy projects, flour mills and fast food restaurants among its holdings, bought 40% of Telefónica's Movistar brand in Central America for $500m
Guatemalan conglomerate is unlikely to go along with a deal for Movistar in Central America for a low return, source says