Telefónica is known in countries like Venezuela and Spain by its main brand, Movistar. Image: Official Telefónica logo.
Guacamaya, November 4, 2025. Telefónica’s chairman, Marc Murtra, announced on Tuesday that the company will also be leaving Venezuela, as part of the sale of all its assets in Hispanic America, in addition to Mexico and Chile.
The Spanish multinational had already sold its subsidiaries in Argentina, Peru, Uruguay, Ecuador, and Colombia, embarking on a gradual withdrawal from the entire region.
The exit from Venezuela represents a surprise for many, as new investments in 4G and 5G infrastructure had been announced. On the other hand, it is not unusual for a company to invest in assets with the intention of selling them to make them more attractive.
On September 23, the president of Telefónica Venezuela, José Luis Rodríguez Zarco, denied that the subsidiary in the country was for sale, “No one has spoken to me at all about the possibility of selling the operator in Venezuela. I say so sincerely. Otherwise, I would be the first to be surprised if this were to happen.”
The company’s management has not yet announced timelines for closing its “Hispam” division, which today consists of Venezuela, Mexico, and Chile.
Telefónica will thus focus its growth on its “four strategic pillars”: Spain, Germany, the United Kingdom, and Brazil. As Murtra explained, the priority is to “consolidate profitability and innovation in the regions where Telefónica is most competitive.”
On the other hand, the company is also evaluating the possibility of delisting from the New York Stock Exchange, as part of a plan to simplify its global structure.
Telefónica is not only the largest telecommunications company in the Iberian Peninsula, but also the fourth largest in Europe and the sixteenth largest worldwide. Its brands include Movistar, O2 and Vivo. It has a minority stake held by the Spanish state.
