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LatinNews Daily - 05 December 2025
In brief: Chile’s Entel, Mexico’s América Móvil drop bid for Telefónica Chile
*Chilean telecommunications company Entel has announced that it is no longer pursuing a joint bid to purchase the Chilean unit of Spanish telecommunications company Telefónica with Mexico-based telecommunications giant América Móvil. According to a filing to the Comisión para el Mercado Financiero (CMF), the State institution that regulates the financial market in Chile, Entel stated that it was evaluating alternative options to remain in the bidding process following the termination of its memorandum of understanding with América Móvil. According to Bloomberg, the bid by the pair had been viewed as the leading offer in the sale of Telefónica’s Chilean unit, with shares in both companies climbing after news of the joint purchase emerged in October. Entel stated that as the due diligence process for the assets had not concluded, it could not indicate the reach, amount, or other conditions of a potential binding offer.
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