Telefónica relieves the president of his Chilean subsidiary with the sale on the desk | Companies | EUROtoday

Telefónica Chile has appointed Juan Vicente Martín Fontelles as of June 1 as the brand new president and CEO of the subsidiary changing Roberto Muñoz Laporte, who leaves after greater than 25 years within the group, because the operator reported on Wednesday in a press release.

Muñoz leaves the group to “assume new professional challenges” and thus ends 13 years as CEO of Telefónica Movistar Chile and 7 additionally as president, in keeping with the corporate. The relay happens amongst insistent publications within the native and Spanish press that the group chaired by Marc Murtra could be getting ready the sale of the Chilean subsidiary. The newest details about it means that the Spanish multinational would have employed the American Bank Citi to advise on the operation, during which America Mobile, by Mexican Carlos Slim, and the Luxembourgers Millicom would have an interest. The quantity of the transaction can attain 1.2 billion euros.

In the road of getting ready that sale, which the corporate has not confirmed, analysts interpret the concession final week of a Telefónica Hispam mortgage to its subsidiary in Chile for the quantity of 371,000 million Chilean pesos (about 348 million euros on the present trade fee), with expiration for 5 years. The group defined that this liquidity injection will likely be for “general uses” and can guarantee “sufficient liquidity to address its commitments of the coming years, which will contribute to its financial stability.”

This announcement was made the identical week during which it confirmed the sale of its subsidiary in Uruguay to Millicom for 440 million {dollars} (about 354 million euros on the present trade fee). This was the fourth divestment operation in Latin America after the sale of Colombia’s subsidiaries to Millicom for 389 million euros, that from Argentina to Telecom (Clarín and Fintech Group) for 1,190 million euros and that of Peru to Integra for 900,000 euros.

With these actions, the corporate maintains solely 4 subsidiaries within the area (not counting Brazil, which is certainly one of its 4 strategic markets), in comparison with the twelve it got here to have. From that record, and after the sale of Uruguay, there are solely Ecuador, Mexico, Venezuela and Chile.

Directive profile

Juan Vicente Martín, born in Madrid, has been linked to the phone group since 1995 and till now he held the place of Movistar Director firms for the Latin America area. The new president highlights his dedication to “the creation of sustainable value for the company” and the event and progress of expertise. Also with “accompaniment in client digital transformation processes”, in keeping with the assertion

In this sense, the operator provides that amongst her challenges on the head of the corporate is to “maintain the strategic vision of Telefónica”, whereas defending Movistar’s management “as the main integrated operator of Chile, in the middle of strong competition.”

On the opposite hand, Telefónica Movistar Chile thanks Roberto Muñoz for his excellent work and dedication in these years main the operation, during which “important achievements” have been recorded, and needs him “successes in her new professional challenges.”