Telefónica would retain its majority stake in the JV

The Spanish carrier paused plans while it carried out a strategic review, now been fully axed

As telco continues its consolidation efforts

But still wants to remain the major stakeholder in the company

Continues Latin America exodus

Wants to show that it will invest in key infrastructure assets

Is further consolidation on the way in Spain?

Telefónica continues to slim down its presence in Latin America

The telco looks set to exit another Latin American market

The carrier wants to cut costs

An update is expected in the coming months

Europe has fallen behind the US and China, claims Murtra

The troubled carrier filed for voluntary insolvency in February

Telefónica continues to slim down its Latin America footprint

STC acquired a 9.9 percent stake in the Spanish telco last year

Is part of the company's push to reduce its operations in Latin America

The carrier said the filing represents its best option after failed attempts to sell unit

Follows reports from last month that Telefónica has attracted suitors for Argentinian business

Both Argentinian and foreign investors have shown an interest

José María Álvarez-Pallete leaves after nine years in the role

But talks are still ongoing

Secures voting rights as part of the deal

Acquires company from Asterion and Telefónica

Keppel-linked Aermont reportedly highest bidder for Asterion & Telefónica-owned firm