移动通信网 程然
智利电信运营商 Entel 向智利金融市场监管机构 CMF 提交的披露文件证实，公司正与卢森堡上市的拉美电信集团 Millicom 就出售其秘鲁子公司进行深入谈判。Entel 表示已收到 Millicom 的非约束性报价，并表示尽管谈判已进入后期阶段，交易仍需获得双方必要的公司授权，并就最终条款及其他正式要素达成一致。这笔潜在交易一旦落地，将进一步重塑秘鲁乃至整个拉丁美洲的电信市场格局。
秘鲁市场格局：四强争霸中的第二名易主
秘鲁移动通信市场目前由四家运营商构成。根据 GSMA Intelligence 今年第三季度的统计数据，America Movil 旗下的 Claro 以 1250 万移动连接数稳居市场第一；Entel 以 970 万连接数位列第二；Viettel 旗下的 Bitel 和 Integra Telecom 持有的 Movistar 分别以 940 万和 880 万紧随其后。四家运营商之间的市场份额差距并不悬殊，竞争格局相对胶着。
Entel 于数年前进入秘鲁市场，曾凭借激进的定价策略和 4G 网络快速扩张一度跻身市场前列。然而，多年的价格战侵蚀了盈利能力，叠加秘鲁宏观经济波动和外汇压力，Entel 在秘鲁的投资回报始终未达预期。此次寻求出售秘鲁业务，被视为 Entel 收缩海外战线、聚焦智利本土市场的战略调整。该公司早在今年 7 月就已就此事向监管机构进行保密报备。
【关键数据】
- Entel 秘鲁移动连接数: 970 万（2024 年 Q3，GSMA Intelligence 数据）
- 秘鲁市场第一: Claro（America Movil 旗下）1250 万连接
- Bitel / Movistar 连接数: 分别为 940 万 / 880 万
- Millicom 扩张动作: 过去两年从 Telefónica 手中收购多项拉美资产
Millicom 的拉美扩张逻辑
对 Millicom 而言，收购 Entel 秘鲁子公司的谈判并非偶然。公司首席财务官 Bart Vanhaeren 在今年早些时候的财报电话会议上明确表达过进入秘鲁市场的意愿。拉美媒体本周早些时候率先报道了这笔潜在交易的消息，与 Millicom 管理层的公开表态相互印证。
过去两年间，Millicom 一直积极参与 Telefónica 在拉美地区的大规模资产剥离，先后接手了多项重量级资产。若此次成功收购 Entel 秘鲁业务，Millicom 在拉美的版图将进一步扩大，形成对传统巨头 America Movil 和 Telefónica 残余力量的直接挑战。从规模效应看，跨国运营商整合分散市场资产，有助于摊薄网络投资成本，尤其是在 5G 部署和光纤宽带领域。
行业整合趋势延续
这笔交易折射出拉美电信市场正在经历的深度整合周期。一方面，Telefónica 等欧洲运营商持续收缩拉美战线，为现金充裕的区域性买家创造机会；另一方面，中小市场规模效应不足，单一国家运营商的生存空间日益逼仄。Millicom 凭借多年深耕中美洲和南美洲市场的运营经验，正成为这一轮整合的主要受益者。从长期看，若交易达成，秘鲁市场可能从四强格局逐步向“一大两强”演变，监管机构的反垄断审查将是接下来的关键变量，值得持续追踪。
出处：Millicom in talks to buy Peruvian unit from Entel
英文原文Chile-based Entel revealed it is in advanced negotiations with Millicom over the sale of its business in Peru, confirming reports in Latin American business press earlier this week. In a disclosure to Chile’s financial market regulator CMF, Entel stated it received a non-binding offer from Millicom for its unit in Peru, a development it had confidentially flagged to the regulator in July. It added although negotiations were at an advanced stage the deal was still subject to “necessary corporate authorisations from the parties”, as well as agreement on final terms and other formal elements. Entel is one of four operators in Peru. GSMA Intelligence statistics for Q3 put it as the second largest by mobile connections, with 9.7 million. Its rivals are America Movil’s Clara, Viettel’s Bitel and Integratel-owned Movistar, with 12.5 million, 9.4 million and 8.8 million connections, respectively. On reporting rumours of a potential deal earlier this week, Business News Americas noted Millicom CFO Bart Vanhaeren indicated the company had ambitions to enter the Peruvian market during a financial results call earlier this year. The potential acquisition of Entel’s unit in Peru would be the latest in Millicom’s expansion across Latin America, having scooped-up a number of assets from Telefonica over the last two years as the latter sold a large part of its business in the region. The post Millicom in talks to buy Peruvian unit from Entel appeared first on Mobile World Live .
