Telefonica Chile sale stalls as America Movil changes tack

America Movil has backed away from its earlier plan to buy Telefonica Chile only as part of a joint deal with local operator Entel, slowing momentum around any sale of the financially troubled business.

The Latin American telecoms group now says it is no longer insisting on a shared purchase, but the shift has not yet produced a clear alternative buyer or timetable, leaving the future of Telefonica’s Chilean unit uncertain.