Telefonica weighs sale of Venezuelan unit

Telefonica is reportedly considering selling its Venezuelan subsidiary within 12 months but is waiting for more favourable conditions. The operator received unsolicited approaches, including talks with Miami-based LARA Fund, and wants multiple bidders. Any deal would need approval from the US and Venezuelan governments.

• Telefonica may sell Movistar Venezuela within 12 months
• The operator held talks with Miami-based LARA Fund
• Any deal would need US and Venezuelan government approval
• In 2025 Telefonica sold its Ecuador unit to Millicom for $380 million