ROME-Telecom Italia said it increased its stake in Entel in Chile from 25.63 percent to 54.76 percent. Entel owns 100 percent of Entel PCS, a mobile operator in Chile. Entel Chile also operates a fixed-line network.
Chile said it purchased the stakes held in Entel Chile by the Chilquinta Group and Matte Groups, respectively 25.63 percent and 3.5 percent, for $905 million-$820 million to Chilquinta and $85 million to Matte.
“Telecom Italia’s strategy for future development of Entel Chile foresees expansion of the company’s operations and reach in Latin America, the company said in a statement.
