Market Chatter: Millicom Weighs Potential Purchase of Telefónica's Chilean Business

02:36 AM EST, 01/08/2026 (MT Newswires) -- Luxembourg-based telecommunications group Millicom International Cellular (M4M1.F) is exploring a potential bid for Spanish peer Telefónica's (TEF.MC) operations in Chile, Bloomberg News reported Wednesday, citing people familiar with the matter. The companies are holding private discussions over a potential transaction, which would allow Millicom to enter the Chilean market. Millicom has previously acquired Telefónica's assets across Latin America, including operations in Colombia, Ecuador, and Uruguay units, as Telefónica continues to scale back its regional footprint outside Brazil. Millicom and Telefónica did not immediately respond to a request from MT Newswires. (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)