Movistar on Thursday sold its operations in Guatemala and El Salvador to Claro for $648 million. It’s looking for a buyer for the rest of its Central American business as well.
What could this mean for the 2.2 million Movistar customers in Costa Rica? If Movistar leaves the country there is no need to worry. Everyone’s phone number and contract will stay the same with a new company. The Executive Power will make sure of this before approving the deal. This approval is required for concession contracts to foreign firms.
Another concern is whether Sutel would once again regulate rates as it used to. This would only happen if Movistar leaving creates a scenario without sufficient competition to keep rates appropriate.
Some possibilities that have been rumored are that Claro, ICE, or AT&T might be potential buyers. It was published on Wednesday that a Swedish firm, Millicom (Tigo brand), is a candidate.