Verizon is the largest telecommunications firm in the United States.
Verizon, the largest telecommunications firm in the United States, will officially land in Chile amid rumors of its acquisition of Movistar. The Telecommunications Undersecretary’s Office today published Decree No. 53 of April 24, 2025 in the Official Gazette, granting a public telecommunications service concession. The authorization will allow the company to provide Voice over Internet Protocol (VoIP) service throughout the country for a period of 30 years.
The concessionaire is authorized to install, operate and develop a Public VoIP service. This service will be provided through use of the company’s own networks or those of duly authorized third parties. Work on the service must begin within one month of the decree date and be completed within 24 months, as stated in the Official Gazette.
In 2023, Verizon achieved revenues of US$134 billion and profits of US$12 billion.
In recent weeks, there have been rumors about the sale of Movistar, given the company’s recent weak results in Chile. Last year alone, it saw losses of US$446.8 million. Telefónica -owner of Movistar- has sold subsidiaries in Argentina, Colombia, Peru and Uruguay, raising speculation about a possible exit from Chile, although this has not been confirmed. In April, Movistar announced a US$140 million investment to modernize its 5G network.
Source: Emol.