Telefonica El Salvador

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International de Telecomunicaciones (Intel) was one of the two companies in which the assets of state-owned company Anatel were divided for their privatization. Intel was formed to operate the country's Band-B concession for cellular phone services and some other assets of Antel. The other company was Compania de Telecomunicaciones de El Salvador (CTE) which was formed with the entire fixed-line network of Anatel and a 20-year concession to run a 1900 Mhz PCS license. Like, CTE, Intel was privatized through an international competitive bidding in July 1998 when a 51 percent stake was sold for $40 million to a consortium led by Telefonica International Holdings (51 percent of the consortium) and integrated by Mesoamerica Fund (49 percent). The company was privatized without any exclusivity rights because the telecommunications market was already opened to competition. The company launched its international phone services in September 1998 through Telefonica Multiservicios (a joint venture between Telefonica El Salvador and Amnet) and its mobile phone services in December 1998 under the MoviStar brand. The company had more than 230,000 subscribers in its mobile phone services by the end of 2000. That year, investment was budgeted at US$ 41 million to continuing the effort to create a network combining fiber optic with coaxial cable to provide television, telephonic, and internet service. In May 2005, TES Holding, a wholly-owned subsidiary of Telefonica Moviles launched a tender offer for 3.8% of Telefonica Moviles El Salvador’s outstanding shares. Following purchases made from local pension funds and completion of the tender offer, TES Holding held a 99.03% stake in Telefonica Moviles El Salvador. Telefonica Moviles El Salvador was delisted from the Salvadorian Stock Exchange on July 19, 2005. In August 2013, the Guatemalan company Corporacion Multi acquired 40% of the Telefonica's shares in Guatemala, El Salvador, Nicaragua, Panama for US$ 500 million. Telefonica owns 99.03% of Telefonica El Salvador Check retroactive investment for 2004. In May 2005, TES Holding, S.A., a wholly-owned subsidiary of Telefónica Móviles launched a tender offer for 3.8% of Telefónica Móviles El Salvador, S.A.’s outstanding shares. Following purchases made from local pension funds and completion of the tender offer, TES Holding held a 99.03% stake in Telefónica Móviles El Salvador. Telefónica Móviles El Salvador, S.A. was delisted from the Salvadorian Stock Exchange on July 19, 2005. 2007 subscribers are calculated based on the information from wireless intelligence (mobile) plus an estimation on fixed line subscribers made based on the information obtained in sponsor's annual report. Investment figures for 2001-2003 calculated from three year combined investment of euro 47 million. See project file for annual calculation breakdown. 2004 investment not available because of the transition from BellSouth to Telefonica SA. 2005 investments were calculated as indicated in the CAPEX_Telefonica_Suggested.xls File. 2008 capex estimated by proportionally adjusting Telefonica Latin America capex by the number of Telefonica customers in El Salvador. Data was obtained from Telefonica Form 20-F, 2008. 2009 capex estimated by proportionally adjusting Telefonica Latin America capex by the number of Telefonica customers in El Salvador. Data was obtained from Telefonica Annual Report, 2009.