Spain's Telefónica to sell Mexico business to consortium in $450 million deal
April 7 (Reuters) - Spain's Telefónica TEF.MC said on Tuesday it will sell its Mexican businesses to a consortium in a deal that values the operations at $450 million, as the telecom operator looks to exit its non-core businesses and focus on consolidating in Europe.
Telefónica is selling the business to Melisa Acquisition, a consortium led by telecom tech firm OXIO and asset manager Newfoundland Capital Management.
An exit from Mexico had remained complex due to a dispute over tax arrears worth about $250 million that was being litigated at the country's Supreme Court.
The company has already shed units in Chile and Colombia, and only Venezuela remains out of Telefónica's non-core businesses in Latin America.
CEO Marc Murtra said in January the roadmap to exit Venezuela was unchanged despite the U.S. ouster of President Nicolas Maduro.
Telefónica is looking to focus on its core markets of Spain, Brazil, Britain and Germany, and envisions deals that would largely depend on EU regulators taking a softer line.
The slew of Latin American asset sales hit Telefónica's balance sheet in 2025. It posted a net loss of 4.3 billion euros, partly due to the sale of businesses in Argentina, Peru, Ecuador and Uruguay.
