América Móvil, through one of its subsidiaries, and Telefónica have signed a non-binding agreement to jointly explore their potential participation in the sale process of the assets of WOM and its affiliates.
This process is part of WOM’s ongoing Chapter 11 reorganization proceedings before the United States Bankruptcy Court for the District of Delaware.
The agreement allows both parties the flexibility to withdraw from submitting an offer at any time. Should they decide to proceed, any offer and potential transaction will be subject to the bidding procedures and regulatory approvals required under WOM's reorganization process, as well as applicable sectoral and competition regulations, including prior authorization from Chile's National Economic Prosecutor's Office.
The interest of both companies in jointly exploring their potential participation in the sale process of WOM and its affiliates in Chile lies in the potential benefits the transaction could generate for their customers and Chilean consumers in general.
The transaction is expected to strengthen the sustainability of the telecommunications sector by increasing the capacity to continue investing and competing in high-speed and coverage networks, which are crucial for the country's digitalization.
This collaboration underscores the commitment of América Móvil and Telefónica to enhancing the telecommunications infrastructure and services in Chile, aiming to provide better connectivity and digital solutions to the market.
