Chilean telecom group Entel has hired an investment bank to look for a buyer for its Peruvian business, Diario Financiero, a Chilean business daily, reported on Wednesday 11 November 2026. Market talk points to approaches from Millicom, the Luxembourg-based mobile group behind the Tigo brand, the paper said.
Key Facts
•What. Entel is reported to have hired an investment bank to find a buyer for Entel Peru.
•Peru unit. The second-largest mobile operator in Peru, with 10.5 million customers.
•Numbers. Nine-month revenue US$923.8 million, up 7%; EBITDA, a core earnings measure, US$246.7 million, up 12.6%.
•Open. No price or bidder list is public, and Millicom’s interest is market talk, not confirmed.
•Power Index Chile ranks 3rd of 14 in The Rio Times Latin America Power Index, with 62.9 points (November 2026 edition).
What Diario Financiero Reported
Entel is controlled by Almendral, a Chilean holding company with 54.86% of its shares. The bank will approach telecom operators and investors that might want to enter Peru, where Entel arrived in 2013 by buying Nextel, a mobile operator.
For the first nine months of 2026, Entel Peru earned revenue of US$923.8 million, up 7%, and EBITDA of US$246.7 million, up 12.6%. EBITDA is earnings before interest, tax, depreciation and amortisation, and its margin rose from 25.4% to 26.7%.
Why It Matters
Millicom does not operate in Peru today, Diario Financiero says, and calls Entel’s unit its “gateway” into the country. Millicom’s shares are listed on the Nasdaq stock exchange in the United States, so a deal would matter to US investors in the group.
What Is Not Known
Diario Financiero names no bank, price or other bidder, and quotes no statement from Entel on the sale. It cites Millicom’s finance chief, Bart Vanhaeren, only on the group’s general Peru strategy, not on this deal.
Entel’s latest results are in our report on its third-quarter profit. Its Peruvian satellite link-up is in our Entel Starlink story, and more is in our Peru and Chile coverage.
Frequently Asked Questions
Is Entel selling its Peruvian business?
Diario Financiero reported on 11 November 2026 that Entel hired an investment bank to find a buyer. The report does not say Entel has confirmed the process.
Who might buy Entel Peru?
Diario Financiero says market talk points to Millicom, which operates as Tigo and has no Peruvian business today. No price or other bidders have been named.
Sources: Diario Financiero, 11 November 2026.
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