América Móvil and Telefónica sign agreement to participate in WOM assets

By Telefónica

This is an automated translation of the press release issued in Spanish

Mexico City, Mexico and Madrid, Spain – September 2, 2024: América Móvil, SAB de CV (“AMX”), through one of its subsidiaries, and Telefónica SA (“TEF”) today entered into a non-binding agreement to jointly explore their potential participation in the sale of the assets of WOM SA and its affiliates in the context of its Chapter 11 reorganization process pending before the United States Bankruptcy Court for the District of Delaware. The parties may decide at any time not to submit an offer and, if they do so, any offer and potential transaction will be subject to the bidding procedures and regulatory rules and authorizations required under WOM SA’s reorganization procedure and under applicable sector and competition rules, including prior authorization from the Chilean National Economic Prosecutor’s Office.

The interest of both companies in jointly exploring their potential participation in the sale process of the assets of WOM SA and its affiliates in Chile lies in the potential benefits that the transaction could generate for their clients and Chilean consumers in general, given that the sustainability of the telecommunications sector would be reinforced by increasing the capacity to continue investing and competing in high-speed and coverage networks, key to the digitalization of the country.