Transition to the cloud and regional pullback: Telefónica receives the green light for the sale of Movistar Mexico
The Spanish company Telefónica is advancing to the final stage of its exit from Mexico after receiving authorization from the National Antimonopoly Commission (CNA) to sell 100% of Movistar to Melisa Acquisition for 450 million dollars.
Details of the transaction and regulatory framework
The regulatory body determined that the concentration between the Spanish group and the American consortium, made up of OXIO and Newfoundland Capital Management, has little likelihood of affecting the process of free competition and economic competition in the national market.
The central elements of the operation include:
- Share structure: The sale covers all direct and indirect stakes in Pegaso PCS and Celular de Telefonía, the two companies that make up Telefónica Mexico.
- Execution deadlines: The CNA granted the parties a period of six months from the notification to consummate the transaction, which may be extended for an identical period only once.
- Prior agreement: The sale formalizes the terms agreed on April 7 between Telefónica Hispanoamérica and Melisa Acquisition for an enterprise value of 450 million dollars subject to the usual adjustments before closing.
Continuity of the Movistar brand and operational model in the cloud
Telefónica's divestment will not mean the disappearance of the commercial brand in the Mexican market. The buyer OXIO confirmed that Movistar will continue to operate in the country under the same brand and its current management team, serving its base of more than 20 million mobile customers.
The strategic plan of the new owner includes progressively migrating the operation to a cloud-based telecommunications platform, consolidating a predominantly digital operator model backed by third-party infrastructure. This evolution continues the strategy initiated by Telefónica in 2019, when it signed an agreement with AT&T to use its mobile access network and gradually dismantle its own spectrum infrastructure.
Historical trajectory and global strategy of Telefónica
Telefónica began its operations in Mexico in 2001 by acquiring four Motorola operators in the north of the country, extending its national presence in 2002 after buying 65% of Pegaso.
The sale of its Mexican subsidiary concludes a process of graduated divestment in the region. As part of its corporate strategy to exit the Hispanic American market, the Spanish group has already completed the exit of its subsidiaries in Argentina, Peru, Uruguay, Ecuador, Colombia, and Chile, refocusing its priority resources on its four key markets: Spain, Germany, the United Kingdom, and Brazil.
From the editorial perspective of next+, Telefónica's exit from Mexico illustrates the deep reconfiguration taking place in the telecommunications industry in Latin America. The shift from a traditional model based on intensive deployment of physical infrastructure to an asset-light scheme supported by third-party networks and cloud platforms—like that proposed by OXIO—demonstrates that the current competitiveness of the sector is defined by software, digital agility, and capital optimization. For operators and technology directors in the region, the transformation of Movistar sets a precedent on how to manage massive user bases under virtual architectures without compromising business continuity.