Telefónica leaves Central America with US$2.3 billion sale

Latham & Watkins LLP and regional firm Arias have helped Spanish telecoms company Telefónica sell assets across Central America to counterparts Millicom and América Móvil for some US$2.3 billion.

Telefónica leaves Central America with US$2.3 billion sale Credit: iStock.com/primeimages

Telefónica divested the assets in two transactions. In the first, Latham & Watkins’ offices in New York, Madrid and San Francisco and Arias in Managua, Panama City and San José helped Telefónica sell its subsidiaries in Costa Rica, Nicaragua and Panama to Millicom for US$1.65 billion.

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