Telefónica Weighs Sale of Movistar Venezuela After 35 Years

Telefónica SA is considering the sale of its Venezuelan telecommunications unit, Movistar Venezuela, which would end the Spanish carrier's 35-year presence in the South American nation. The company intends to complete the exit within the next year, though it is currently waiting for an appropriate window to begin the sales process.

Any eventual transaction will require the backing of both the United States and Venezuelan administrations. This potential divestment would further reduce the overall footprint of the company across Latin America.