CMI looms over Telefónica sale

CMI looms over Telefónica sale

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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

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