Latin American Cellular Holdings’ $22 Million Acquisition of Up To 94% Stake in Telefónica del Perú


Estudio Echecopar (Baker McKenzie) advised telefonica on the transaction

Telefonica subsidiary Latin American Cellular Holdings announced an offer of PEN2.08 per share ($0.60) for the remaining 36 million class-B shares in circulation.

Investors have until 23 April to take the deal, which is worth a total of PEN74.88 million ($21.6 million) and equates to just over a 1 per cent stake in the unit.

The move comes after a previous offer was reportedly criticised by Peruvian authorities for both the timing, coming during a state of national emergency due to the Covid-19 (coronavirus) outbreak, and for the short deadline offered to shareholders.

Estudio Echecopar (Baker McKenzie) advised Telefónica S.A. with a team led by Rafael Picasso Salinas (Picture).

Involved fees earner: Rafael Picasso – Baker McKenzie;

Law Firms: Baker McKenzie;

Clients: Telefonica;

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Author: Ambrogio Visconti.