America Movil and Telefonica analyze the sale of assets of WOM of Chile

The company controlled by businessman Carlos Slim previously acknowledged that it is open to exploring business opportunities in Chile, with the possible sale of WOM assets, given its financial problems.

Now América Móvil and Telefónica have decided to review the potential benefits that the transaction could generate for their clients and Chilean consumers, since it would reinforce the sustainability of the telecommunications sector by increasing the capacity to continue investing and competing in high-speed and coverage networks, which are key to the digitalization of the country.

“We may both decide at any time not to submit an offer and, if we do so, any proposal and potential transaction will be subject to the bidding procedures and the regulatory rules and authorizations required under the WOM reorganization procedure and under the applicable sectoral and competition rules, including prior authorization from the National Economic Prosecutor’s Office of Chile,” América Móvil explained in a press release.