# Telefónica strategic divestments in Latin America

> Live situation record from CLSTR: https://clstr.news/situations/telefnica-strategic-divestments-in-latin-america
> Updated: 2026-10-09T10:02:09.000Z. Sources: 7. Developments: 2.

Telefónica is executing a series of strategic divestments across its South American operations. In Mexico, the company is exiting the market after 25 years following authorization from the Comisión Nacional Antimonopolio (CNA) to sell Movistar Mexico to Melisa Acquisition, a consortium comprising OXIO and Newfoundland Capital Management. The transaction is valued at 450 million dollars and is expected to be finalized within six months.

Simultaneously, the company is advancing divestments in Venezuela and Chile. In Venezuela, negotiations are underway to sell its local subsidiary, with a potential market value between 300 and 350 million euros. In Chile, Telefónica and the investment fund KKR have initiated the sale of the neutral fiber optic network provider OnNet, an enterprise valued between 1.5 billion and 2 billion dollars, with a target conclusion by 2027.

## Timeline

### 2026-10-09: Telefónica advances divestments in Venezuela and Chile

Telefónica is pursuing major divestments in South America, including the sale of its Venezuelan subsidiary and its stake in Chile's OnNet fiber optic network.

3 sources. https://clstr.news/cluster/telefnica-advances-divestments-in-venezuela-and-chile

### 2026-10-06: Telefónica to exit Mexico via 450 million dollar Movistar sale

Telefónica will exit Mexico after selling Movistar to Melisa Acquisition, a consortium of OXIO and Newfoundland Capital Management, for 450 million dollars.

4 sources. https://clstr.news/cluster/telefnica-to-exit-mexico-via-450m-sale-of-movistar

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Cite as: Telefónica strategic divestments in Latin America. CLSTR, https://clstr.news/situations/telefnica-strategic-divestments-in-latin-america