Spanish telecommunications giant Telefónica SA has reached an agreement to sell its Peruvian subsidiary, Telefónica del Perú, to Argentina’s Integra Tec International for approximately PEN 3.7 million (EUR 900,000).
The transaction includes the acquisition of 100 percent of the company’s shares, along with a commitment to purchase the remaining 0.7 percent held by minority shareholders, Telecompaper reported.
As part of the deal, Integra Tec will assume Telefónica del Perú’s debt obligations, which amount to EUR 1.24 billion, primarily owed to Peru’s tax authority and bondholders. The move follows Telefónica del Perú’s recent bankruptcy filing, a consequence of long-standing tax disputes and regulatory rulings that, according to the parent company, created a competitive imbalance in an already challenging market.
Telefónica del Perú, the former state-owned incumbent acquired by Telefónica in 1994 for around USD 2 billion, remains the country’s market leader, serving over 13 million customers across both urban and rural areas, including 1 million fiber users.
This latest divestment echoes Telefónica’s recent sale of its Argentine unit to Telecom Argentina for USD 1.25 billion, a deal that is currently under regulatory review due to antitrust concerns raised by President Javier Milei’s administration. That sale was also signed and closed simultaneously, leaving any regulatory compliance obligations to the buyer.
Both transactions are part of Telefónica’s broader strategy to gradually reduce its footprint in Latin America, a region where it has encountered persistent economic, regulatory, and operational challenges. This pivot has gained momentum under Executive Chairman Marc Murtra, appointed earlier this year, who is also reportedly exploring the sale of Telefónica’s assets in Mexico, Uruguay, and Colombia.
Integra Tec, the buyer of Telefónica del Perú, is an Argentine conglomerate with operations across Latin America in sectors including telecommunications, utilities, media, energy, and natural resources.
