April 3, 2020 |
Latin American Cellular Holding, a division of Spain's Telefónica, has made an offer to buy out minority shareholders in the telecommunications company's subsidiary in Peru, according to a securities filing.
Telefónica could buy 36 million Class B shares for PEN2.08 ($0.60) per share through April 23, making the deal worth PEN74.9 million if all shareholders decide to sell.
Latin American Cellular increased its stake in Telefónica Perú to 98.9% from 48.4% on March 30, buying 1.67 billion Class B
Spanish telecom could spend another $22 mln for all Class B shares in its subsidiary