Telefónica will sell your business in Mexico, according to five -day version

Madrid. The Spanish telephone telecommunications group hired the JPMorgan investment bank to sell their Mexican business, the newspaper reported Friday Five dayswhich bases your information on unidentified financial sources.

The company aims to carry out the sale before its annual shareholders board, which is usually held in April or May, the newspaper reported.

A Telefónica spokesman declined to comment and JPMorgan did not respond immediately to a request for information.

Some local media have reported that Telefónica has put on sale its Argentine business and the company has said that it is trying to sell a majority participation in its Colombian subsidiary to Millicom, which is quoted in the New York Stock Exchange.

Telefónica has carried out a series of assets of assets in Latin America in recent years to reduce debt and help finance investment in 5G mobile networks.

In Peru request restructuring

The subsidiary in Peru announced yesterday that it will request the State Entity for the Defense of Competition and Property Protection financial restructuring.

The company announced that it will request an ordinary bankruptcy procedure (PCO), a procedure that according to the INDECOPI regulatory body is carried out when a company with debt crisis cannot comply with its obligations.

After evaluating different alternatives to ensure the company’s financial stability, we conclude that we voluntarily welcome the PCO is the best way to protect the provision of telecommunications services to PeruviansSaid Elena Maestre, executive president of Telefónica del Peru, in a statement.

We are focused, together with employees and suppliers, in guaranteeing the permanence of long -term TDP to bring our customers the best technology, fulfilling our regulatory commitmentsMaster said about the Peruvian firm.

Telefónica del Perú, which operates in the country since the 1990s with fixed and cell phone, cable and internet television, among others, has more than 13 million customers in urban and rural areas throughout the country, according to data from The company.

The beginning of the restructuring process does not imply a liquidation, much less a bankruptcysaid the corporate.