Spanish telecommunications company Telefónica has sold its operation in Mexico, commercially known as Movistar, to a consortium led by US-based OXIO Inc. and Newfoundland Capital Management. The transaction is valued at 450 million dollars. According to the company, the deal involves the full transfer of the shares of Pegaso and Celular de Telefonía, which make up Telefónica México. This sale is part of Telefónica's global strategy to reduce its exposure in Latin America and focus on key markets such as Spain, Brazil, Germany, and the United Kingdom. The company confirmed that it will continue to operate normally in the country during the closing process, serving over 21.7 million customers under the Movistar brand. This sale marks a new chapter in the restructuring of the country's telecommunications sector, where the company is ceding its operation after years of strategic adjustments in the region.
