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 In doing so, the coverage obligations attached to the 2.5GHz spectrum have now been rescinded.