América Móvil (AMX) ended its exploratory agreement with Entel concerning a possible joint offer for assets tied to Telefónica’s Chilean business. The companies signed the non-binding agreement in July to review participation in Telefónica’s sale process. AMX said it will now independently assess whether to pursue the opportunity as Telefónica continues evaluating strategic options for its regional footprint.
The proposed joint approach would have combined two of the region’s most significant operators in a potential bid for selected fixed and mobile assets. The termination signals that the parties did not reach alignment on next steps, although neither company disclosed specific reasons. Telefónica has been moving forward with restructuring efforts across Latin America, including asset sales and network modernization strategies.
AMX said it remains interested in evaluating the sale process directly. Entel has not issued further comment on whether it intends to participate alone. Telefónica’s Chile operations remain a competitive market with active fiber buildouts and rising mobile data consumption.
• AMX and Entel terminate July 18 non-binding agreement
• Agreement focused on exploring a joint offer for assets tied to Telefónica’s Chile operations
• AMX will continue to evaluate the sale process independently
• Telefónica has ongoing regional divestiture and restructuring initiatives
• No additional timeline disclosed for next steps in the Chile asset review
“These discussions were exploratory, and we now believe it is appropriate to evaluate potential participation independently,” AMX stated.
🌐 Analysis: Telefónica’s asset sales in Latin America have drawn periodic interest from regional operators and investors, including infrastructure funds focused on fiber and mobile network modernization. AMX’s decision to step back from a joint approach may reflect differing valuations or strategic priorities, while the Chilean market continues to attract capital around FTTH expansion and 5G spectrum deployments.
