Quinenco seeks partner or Telsur stake sale

25 Sep 2009

Reuters reports that Quinenco, the industrial, banking and telecoms holding firm controlled by Chile’s Luksic family, is looking for a strategic partner for Telefonica del Sur (Telsur), its telephone and media affiliate, or to exit the business completely. Quineco has hired the investment banking unit of JP Morgan Chase & Co to look for possible partners or ways to divest part or all of its 74.3% stake in Telsur. Among the options under consideration are a strategic partnership, co-management of the business, a merger, a joint venture or divestiture.

According to TeleGeography’s GlobalComms database Telsur served more than 201,000 fixed line customers at the end of 2008. The operator also provides broadband Internet and pay-television services.

Chile, Telefonica del Sur (Telsur)