Telefónica Completes Sale of Otecel for $380 Million

Telefónica, S.A. has announced the completion of the sale of 100% of the share capital of Otecel S.A. (Telefónica Ecuador) to Millicom Spain, S.L. for a transaction amount of $380 million (approximately €329 million). This transaction, which was previously communicated on June 13, 2025, follows the receipt of necessary regulatory authorizations and the fulfillment of agreed conditions. The sale is part of Telefónica Group’s strategy to reduce its exposure in Hispanoamerica and manage its asset portfolio. The closing of the transaction results in a reduction of the Telefónica Group’s net financial debt by approximately €273 million.