Telefonica has completed the process of returning its Mexican spectrum licences and raised EUR95 million (US$104 million) as a result.
Spanish business outlet El Economista quoted the sum from a statement that the operator provided to the Madrid Stock Exchange (Bolsa de Madrid).
The operator’s Mexican unit Movistar (Telefonica Moviles Mexico) signed a deal in November 2019 with the smaller AT&T Mexico covering last mile wireless capacity access. At the time, Movistar revealed that it would relinquish its Mexican spectrum holding, including the 2.5GHz spectrum that it acquired just over a year previously in November 2018.
Now that it has returned this spectrum, the operator is no longer required to meet the coverage obligations associated with the 2.5GHz licence. Movistar has also returned its 800MHz and 1900MHz holdings.