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 [Operators](https://developingtelecoms.com/telecom-business/operator-news.html)## Telefonica reportedly hires Citi for Chile retreat

 

 

   Details    Manny Pham    Category: [Operators](https://developingtelecoms.com/telecom-business/operator-news.html)     13 May 2025     8116 views   

 

  ![Telefonica reportedly hires Citi for Chile retreat](https://developingtelecoms.com/images/stories/Company_Logos/800x600/Telefonica_MWC22_600.jpg)  

 

Telefónica has reportedly appointed investment bank Citi to advise on the sale of its Chilean unit, as the group continues to scale back its presence in Latin America.

According to Reuters, citing El Confidencial, the sale of its business in Chile would result in a capital loss for Telefonica. Under the leadership of new Group CEO Marc Murtra, the company has aggressively streamlined its portfolio to focus on its core markets in Brazil, the UK, Spain, and Germany.

So far, Telefonica has exited or reached agreements to divest its operations in [Colombia](https://developingtelecoms.com/telecom-business/18172-telefonica-sells-its-colombian-unit-to-millicom.html), [Peru](https://developingtelecoms.com/telecom-business/telecom-investment-mergers/18332-telefonica-sells-troubled-peruvian-unit-for-us-1-million.html), and [Argentina](https://developingtelecoms.com/telecom-business/telecom-regulation/18220-telecom-argentina-s-purchase-of-telefonica-unit-is-on-hold.html). It has also [reportedly hired JP Morgan](https://developingtelecoms.com/telecom-business/operator-news/17996-telefonica-reportedly-seeks-mexico-sale.html) to advise on the sale of Movistar Mexico, despite it being the country’s second-largest operator.

Telefonica has operated in Chile for 25 years, following its acquisition of a majority stake in Compania de Telefonos de Chile. Over time, the brand transitioned to Movistar and expanded its portfolio to include fixed-line and internet services.

 

 

   
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