Telefónica seeks to sell its Venezuelan unit before year-end

Telefónica expects to complete the sale of its Venezuelan unit before the end of 2026, according to EL NACIONAL, which reported the news on October 10, 2026. The Spanish-origin telecom operator has made progress in talks after receiving approaches from potential buyers, although no definitive agreement has yet been signed.

The process is part of the company's restructuring in the region. The offers on the table come from interested groups including Millicom International Cellular S.A., which operates under the Tigo brand, and the investment fund LARA Fund. The Venezuelan unit could be worth up to 350 million euros, according to sources cited by the outlet.

To complete the transaction, the company requires regulatory approval from the Venezuelan government and the United States. The involvement of U.S. authorities reflects the framework of financial sanctions and existing restrictions that govern the transfer of assets and investments linked to the Venezuelan market.

A change in ownership of one of the country's leading telecommunications companies will have a direct impact on users and on the quality of service. The entry of new investors will determine the resources available to maintain the network and adapt the technological infrastructure to the needs of the population.