América Móvil keeps investing in Chile after Telefónica sale

América Móvil is staying in Chile even after Telefónica exited and sold its local unit to a Chilean investment fund. The Mexican operator had looked at making a joint bid with local carrier Entel for Telefónica’s Chilean business, but ultimately walked away from the deal. Despite calling Chile a “difficult” market, CEO Daniel Hajj said the country remains strategic and the company is still putting money into its networks.

Hajj said América Móvil is focused on growing revenue, gaining market share and squeezing more operational synergies from its Chilean footprint. The operator is betting that ongoing investment, rather than pulling back after Telefónica’s sale, will put it in a stronger position in a tight and competitive market.