Bonds
Telefonica Becomes Latest Victim of Chile’s Mobile Phone Curse
Movistar saw its market share dip to 23.7% in the 12 months through September.
Photographer: Angel Garcia/BloombergThis article is for subscribers only.
Telefonica Moviles Chile SA’s dollar bonds tumbled to the lowest in just over a year last week as fierce competition in the mobile phone market pushed up losses and the parent company unloads assets across Latin America.
The company’s notes due 2031 have dropped 7.2 cents on the dollar since August to 74.5 cents, the lowest since February 2024. In just the last month, the bonds have tumbled 2.5 cents, one of the worst performances among Chilean hard-currency debt.