Telefonica sells Chile unit to NJJ, Millicom for $1.2 billion

Core Viewpoint - Spanish telecoms giant Telefonica has sold 100% of its mobile unit in Chile to French holding company NJJ and Luxembourg-based Millicom, aligning with its strategy of divesting from non-core assets [1] Group 1 - The sale is part of Telefonica's broader strategy to streamline operations and focus on core markets [1] - The transaction reflects Telefonica's ongoing efforts to reduce debt and improve financial stability [1] - NJJ and Millicom are expected to leverage the acquisition to enhance their presence in the Latin American telecom market [1]