When consulted on the sale of the Telefónica del Perú operation to Integra Tec International, Antonio Büchi, CEO of Entel, maintained a prudent position. Although he avoided pronouncing directly on the transaction, he took the opportunity to reflect on the complexity of the competitive environment that crosses the telecommunications industry in the region. This within the framework of its ordinary shareholders Board.
“Regarding Telefónicathe truth that I cannot comment much. We are focused on ours “Büchi said who stressed that Entel’s priority has always been to focus on providing a good service, building brand and achieving high customer satisfaction, which, “he said,” translates into better margins and sustained growth.
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However, Büchi was emphatic in pointing out that the news of the sale should not be interpreted simply as the entry of a new player to the market, but as a sign of the structural problems facing the sector. “We are talking about a company that continues in bankruptcy process That is, we are talking about an industry in which there is an operator, let’s call it like that, still bankrupthe remarked.
-For the CEO of Entel, This situation should not be understood as an exclusive difficulty of Telefónica, but as a manifestation of the broader challenges facing the industry. “That reflects not a telephone problem, it reflects a problem of industry”he concluded.
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Telefónica del Perú faced in recent years a complex financial situation until, in February of this year, the company requested to take advantage of a bankruptcy process to face its debts exceeding 1,240 million euros, including obligations with SUNAT and bond holders.
Between 2015 and 2024, its turnover was reduced from S/ 9,572 million to S/ 6,020 million, and only in 2023 reported a 9.8%revenue drop. The operation was finally sold to the Argentine company Integra Tec International for about 900,000 euros, in a transaction that includes the assumption of liabilities and the commitment to launch a public offer for the remaining 0.7% of shares. This movement is part of Telefónica’s global strategy to reduce its exhibition in Latin America, as it did in Argentina and Colombia.
