Verizon Communications announced today that it would be selling its interests in the Dominican Republic’s largest telecommunications company, Verizon Dominicana. Verizon is celebrating its 75th year in the Dominican Republic and had recently announced a US$151 million investment.
The move comes as part of the company having reached definitive agreements to sell its Puerto Rican and Venezuelan telecommunications operations. Telefonos de Mexico (Telmex), Mexico’s leading full-service telecommunications company and America Movil will undertake the US$3.7 billion transactions.
Verizon has agreed to sell its interests in Verizon Dominicana, a 52% interest in Telecomunicaciones de Puerto Rico and a 28.5% interest in Compania Anonima Nacional Telefonos de Venezuela (CANTV).
The three companies serve a combined total of more than 15 million wireless, landline and broadband customers in the three countries and have approximately 17,000 employees.
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