Argentina’s President Javier Milei warned Telefonica SA that his government will review the phone carrier’s plan to sell its local operations to Telecom Argentina SA for a possible breach of anti-monopoly rules.

The Argentine government announced that it will investigate the acquisition of Telefónica by Telecom to determine whether it creates a monopoly.

Spanish telecoms giant Telefónica has struck a deal to sell its Argentinian unit to Telecom Argentina for $1.245 billion. It follows reports last month that the carrier was in talks with both international and domestic suitors for the business.

Telefónica agrees to sell its operations in Argentina to Telecom Argentina SA for US$1.25 billion, drawing a warning for President Javier Milei's government that it will review the transaction.

Telefónica has announced the sale of its Argentina to Telecom Argentina for $1.25 billion. In a short statement released yesterday, the company said that it has “reached an agreement with Telecom Argentina to sell all of its shares in the share capital of Telefónica Argentina.

Telefonica struck a deal to sell its unit in Argentina to Telecom Argentina for $1.3B, though the move is being assessed over monopoly fears.

The Argentine Administration of President Javier Milei announced Monday that the buy-over of Telefónica de Argentine by Telecom has been handed over to the National Communications Board (Ente Nacional de Comunicaciones - ENACOM) and the National Competition Defense Commission (Commission Comisión Nacional de Defensa de la Competencia - CNCD) to determine if the move constitutes a monopoly.

Spanish telecommunications company Telefonica has hired Rothschild to help it sell its unit in Peru that filed for bankruptcy protection last month, the El Confidencial news outlet reported on Thursday.

Telefónica has announced a US$1.2 billion deal to sell its entire stake in its Argentinian unit to Telecom Argentina, though the transaction could be blocked by government intervention over competition concerns.

(Bloomberg) -- Argentina’s President Javier Milei warned ... has been working since late 2019 to cut its exposure to Latin America. Shortly after the filing, Milei’s administration published ...