Telefónica evaluates sale of Movistar Venezuela

Telefónica is evaluating the sale of its Movistar Venezuela division as part of a broader strategic withdrawal from Spanish-speaking Hispanoamérica. The Spanish multinational aims to concentrate its core business on markets in Europe and Brazil.

Under the leadership of CEO Marc Murtra, the company has accelerated its divestment process since January 2025. While Telefónica has reduced its presence in the region from 14 markets to just three, exiting Venezuela presents unique challenges due to the country's political and economic instability.

The company is reportedly waiting for favorable market conditions to launch a competitive bidding process rather than seeking a single buyer. While unsolicited interest from potential buyers has been reported, no definitive decision has been made by the board. Any potential transaction would likely require support from both Venezuelan and United States administrations.