Telefonica sells Chilean unit to Millicom and NJJ for USD 1.215 bln

Millicom and French investment firm NJJ Holding have agreed to buy 100 percent of Telefonica's operations in Chile for USD 1.215 billion. Millicom, which runs Tigo-branded services across Latin America, will take control of the Chilean mobile and fixed business alongside NJJ.

The deal is part of Telefonica's ongoing strategy to sell assets in Latin America outside its core markets. For Millicom, the purchase expands its regional footprint, while NJJ adds another telecom asset to its portfolio. The transaction remains subject to regulatory approvals.