Archive · 8 Jan 2026
Millicom Eyes Telefonica's Chilean Unit
Millicom, a company that provides phone and internet services in Latin America, is thinking about buying Telefonica's business in Chile.
This would make Millicom a new competitor in Chile's phone market, which currently has four big companies.
Telefonica has been trying to sell its Chilean unit for a while, and other companies like Entel and America Movil were interested but didn't make a deal.
If Millicom buys the unit, it would keep the number of competitors the same, which might be good for customers.
Millicom has already bought Telefonica's businesses in other countries like Colombia, Ecuador, and Uruguay.
Millicom is considering bidding for Telefonica's Chilean unit to expand its services in Chile.
No final decision has been made, and the talks are private.
A deal would introduce a new competitor to Chile's market, maintaining the total number at four.
Telefonica has been seeking bids for its Chile unit since last year, previously attracting interest from Entel and America Movil.
Millicom has recently acquired Telefonica's units in Colombia, Ecuador, and Uruguay.
- Who
- Millicom International Cellular SA, Telefonica SA, Entel SA, America Movil SAB
- What
- Potential acquisition of Telefonica's Chilean unit by Millicom
- When
- No specific timeline mentioned, talks ongoing
- Where
- Chile
- Why
- Millicom seeks to expand services in Chile, Telefonica reducing presence in Latin America
- Company
- Millicom International Cellular SA
- Target
- Telefonica SA’s Chilean unit
- Region
- Chile
- Current Competitors
- 4
- Market Share
- 22.6% (Movistar)
- Previous Acquisitions
- Colombia, Ecuador, Uruguay