Telefonica to sell 40 pct of Central America assets for $500 mln

MADRID, April 30 Tue Apr 30, 2013 2:13am EDT

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MADRID, April 30 (Reuters) - Spain's Telefonica said on Tuesday it had agreed to sell 40 percent of its assets in Guatemala, El Salvador, Nicaragua and Panama to Corporacion Multi Inversiones for $500 million.

The price of the sale could increase by up to $72 million according to the assets' future growth, it said in a regulatory filing.

Telefonica, which is fighting to shrink a net debt pile of 51.3 billion euros at end-2012, will keep control of the assets after the sale, the Spain's largest telecoms operator said.

(Reporting By Paul Day; Editing by Tracy Rucinski)

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