ACS, Telefónica, Repsol and Mapfre are stuck in Peru: demands of 5 billion and abrupt exit

Spanish companies with business in Peru have run aground with the administration, justice and economic problems in the country. Companies like the construction company ACS have litigation against the country for about 1.1 billion, while others like Repsol and Mapfre face a demand of 4.3 billion for a crude spill. Telefónica, with billionaire litigation and a large debt, has recently left the territory. Read more: Florentino Pérez (ACS) threatens…

Movistar Chile announced an investment of US$ 140 million to modernize its network, while rumors about its sale grow in the framework of the withdrawal of the Telefónica group from Latin America. According to El Economista, an investment bank seeks buyer for the Chilean subsidiary, pointing to Millicom as a more viable option. This follows recent sales of operations in Peru, Argentina, Colombia and exit announcements in Mexico and Uruguay. Telef…

The Spanish telecommunications company Telefónica, which operates with the Movistar brand, has recently sold its operations in Argentina, Colombia and Peru. In turn, the Spanish press is claiming that the leadership is moving forward to close the sale of more Latin American subsidiaries. But beyond this context of divestment in Latin America, Telefónica in Chile has announced an investment USD 140 million for a new connectivity project nationwid…