The Spanish firm Telefónica it gave up its plans to sell its subsidiaries in the Ibero-American region after having concluded its debt reduction stage, a European media reported on Wednesday.
According to the Hispanidad portal, this change in strategy would respond to the good performance of its business units in the Hispanic area, which now show better profitability expectations.
“Ibero-America once again has profitability expectations and in the management team’s plans the sale of any of the large units does not enter. For example, Argentina and Peru”, stressed the Spanish media.
“The strategic plan currently in force did not speak of the sale of the Ibero-American subsidiaries, although it raised it as a possibility”He recalled.
The company will now bet on restarting investment in new services and products. For this new stage it will not have “external signings”, but it will make changes in the management team.
At the end of 2020, Forbes magazine had assured that the sale of Telefónica in Latin America would take place in the second half of this year.
This process was to take place in blocks, with transfers of the businesses of Uruguay, Ecuador and Colombia to the Telecommunications company Liberty, according to information accessed by the Spanish newspaper El Independiente.
In June of this year, the Telxius company, majority owned by the Spanish Telefónica, completed the sale to American Tower (ATC) of its telecommunications towers in Brazil, Peru, Chile and Argentina for 900 million euros (about US $ 1,100 millions).