Overview
- NJJ will hold 51% and Millicom 49% of the former Movistar Chile business with cross-options that allow a change in ownership after five to six years.
- The consideration totals a fixed US$1.215 billion plus up to US$150 million in contingent payments, including US$50 million at closing and US$340 million deferred based on results.
- Buyers assume the subsidiary’s net debt, reported at about €479 million as of December 31, 2025.
- Signing and closing occurred the same day, completing Telefónica’s exit from Chile while leaving assets such as ONNET Fibra outside the transaction.
- Bond prices for Telefónica Móviles Chile had rallied earlier this year on takeover prospects as rival bidders including América Móvil and Entel were sidelined, with exits in Mexico and Venezuela still pending.