Telefonica generates EUR95m from returned Mexican spectrum, report says

28 Feb 2020

Telefonica has generated EUR95 million (USD104 million) from the return of its Mexican spectrum licences, El Economista reports, citing a statement issued to the Madrid Stock Exchange (Bolsa de Madrid). Back in November 2019 Telefonica Moviles Mexico (Movistar) signed a ‘last mile wireless capacity access agreement’ with smaller rival AT&T Mexico, and disclosed plans to return its own spectrum. The process has now concluded, with Movistar relinquishing frequencies in the 800MHz, 1900MHz and 2.5GHz bands – the latter of which was acquired as recently as November 2018. In doing so, the coverage obligations attached to the 2.5GHz spectrum have now been rescinded.