Entel, America Movil Drop Joint Bid for Telefonica Chile, Plan to Go It Alone

A Movistar mobile phone service store in Santiago, Chile. — A Movistar mobile phone service store in Santiago, Chile.
Photographer: Cristobal Olivares/Bloomberg

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By Carolina Gonzalez

December 4, 2025 at 12:28 AM UTC

Updated on

December 4, 2025 at 4:39 PM UTC

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Telefonica Chile’s dollar bonds slumped Thursday after Entel SA and Mexico’s America Movil SAB dropped their joint bid for Telefonica SA’s Chilean unit, stating that they plan to proceed independently.