Telefónica Divests $1.25 Billion in South American Assets in Strategic Realignment

Latham & Watkins has advised Spanish telecommunications giant Telefónica on its sale of South American assets worth $1.25 billion to Telecom Argentina. Cleary Gottlieb Steen & Hamilton represented Telecom Argentina in this deal. This transaction is part of Telefónica’s ongoing strategy to reduce its exposure to the Latin American market, a process in which Latham has played a crucial advisory role. Further details can be found in the original article.