16 December 2025

America Movil, a major telecommunications provider across Latin America, announced it will no longer pursue a joint purchase of Telefonica Chile with Entel, citing the end of a non-binding agreement that would have allowed a combined offer for the Spanish telecom group’s Chilean assets. Instead, America Movil has indicated it may submit its own standalone bid for Telefonica Chile.

The move comes amid challenging financials for Telefonica Chile, which reported losses of US$127.6 million through September — an increase of 33% compared to the same period in 2024. Telefonica, the Spanish parent company of the Chilean operator, has been actively selling its Latin American operations, excluding Brazil, as part of a regional exit strategy. Recent sales include operations in Argentina, Peru, Ecuador, Uruguay, and Colombia, with the company leaving Central America years ago. Currently, only Chile, Mexico, and Venezuela remain in its portfolio.

BNamericas reports that Telefonica aimed to complete the sale of its Chilean assets between November and December, but no binding proposal was ever submitted. Regulatory hurdles, pricing disagreements, and Telefonica’s involvement in the wholesale company OnNet are cited as obstacles to closing the deal.

With the joint bid off the table, the future of Telefonica Chile’s sale remains uncertain, and whether America Movil will proceed independently is yet to be confirmed.