Telefonica reshuffles Movistar Peru ownership

19 Dec 2012

Reuters writes that Spanish telecoms giant Telefonica has transferred around half of the shares of its Peruvian subsidiary, Movistar Peru (previously known as Telefonica del Peru, TDP), to its Latin American holding company, Telefonica Latinoamerica Holding. The internal deal was worth around USD1.5 billion and is reportedly part of a broader strategy that will see Telefonica list up to 15% of the holding company.

Peru, Movistar Peru, Movistar Peru (TEM Peru), Telefonica