Designa como presidente a Germán Ranftl, director financiero de Edenor, la principal distribuidora de energía eléctrica argentina
Telefónica has sold its subsidiary in Peru to the Argentine company Integra Tec International for 3.7 million Peruvian soles (around 900,000 euros). The subsidiary was in bankruptcy proceedings and had a debt of approximately 1.24 billion euros at the end of 2024.
«Today, Telefónica Hispanoamérica, a 100% subsidiary of Telefónica (Telefónica Hispam), has sold all the shares it holds in Telefónica del Perú, representing approximately 99.3% of its share capital, to Integra Tec International,» the company stated in a filing with the National Securities Market Commission (CNMV) on Sunday night.
On February 14, Telefónica del Perú voluntarily filed for bankruptcy to address its financial restructuring and operations.
«Regarding the voluntary bankruptcy filing by Telefónica del Perú, it is reported that as of today, the process is ongoing and pending approval by Indecopi (National Institute for the Defense of Competition and Protection of Intellectual Property),» the statement sent to the CNMV added.
As part of this process, Telefónica Hispanoamérica provided a credit line of up to 1.549 million Peruvian soles (around 370 million euros) to the Peruvian subsidiary to maintain operations and find a solution, although the funds would only meet operational cash needs.
As part of the deal with the Argentine company, Integra has acquired the financial credits granted to Telefónica del Perú by Telefónica Hispam.
«Both parties have agreed to make the total amount of the undisbursed credit of 1.549 million soles (around 370 million euros) available to Telefónica del Perú, with disbursements to be made partly by Telefónica Hispam and partly by Integra Tec,» the Peruvian subsidiary of Telefónica highlighted in a statement.
The acquisition of the Peruvian subsidiary of the Spanish telecom company by Integra Tec will focus on «ensuring uninterrupted provision» of telecommunication services to approximately 13 million customers in urban and rural areas of Peru, according to a statement from Telefónica.
Similar to the sale of its Argentine subsidiary to the media group Clarín for around 1.2 billion euros in February, the sale of the Peruvian subsidiary has already been finalized.
«Integra has committed to launch a public tender offer for the shares held by minority shareholders of Telefónica del Perú, representing approximately 0.7% of its share capital, in accordance with Peruvian securities market regulations,» the statement to the CNMV added.
This transaction is part of Telefónica’s strategy to reduce its exposure in Latin America and follows the sales of its subsidiaries in Argentina and Colombia.
Regarding the price of the operation, which is below one million euros, it was determined «considering the situation of Telefónica del Perú and the context of the agreement reached.»
«The new shareholder (Integra) has extensive experience in Latin America, in the telecommunications, utilities, media, energy, chemicals, and natural resources industries, as well as in the recovery of companies in financial distress and special situations,» Telefónica del Perú stated in its release.
NEW PRESIDENT: GERMÁN RANFTL
«The objectives of the new shareholder are to maintain and expand the service, restructure the company’s debt in the context of the bankruptcy proceedings, and establish a sustainable business plan with a strong capital structure. Integra Tec aims to work amicably with creditors, suppliers, employees, the Government of Peru, and all parties related to Telefónica del Perú,» the statement added.
In line with this, the Argentine company has appointed Germán Ranftl, the CFO of Edenor, the main electricity distributor in Argentina, as the new president of Telefónica del Perú to lead the restructuring process.
«To support the stability of the operation, the new shareholder has the current management team of Telefónica del Perú, led by Elena Maestre,» it further stated.
Additionally, the transaction involves the indirect transfer of control over the shares that Telefónica del Perú holds in the rural operator Internet para Todos (IpT).
Telefónica began operating in Peru in 1994 and, as the company highlighted, over the past 31 years, it has contributed to the country’s development and actively supported its transformation.
«Telefónica del Perú has been a key player in territorial integration, connecting more Peruvians, promoting digitalization, and reaffirming its commitment to progress day by day. Through connectivity initiatives in rural areas, digital education programs, and technological innovation, it has reduced gaps and created greater opportunities for society as a whole,» the telecom company added.
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