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Telefonica pursues BellSouth's Latin American operations

ATLANTA-BellSouth Corp. is reportedly in talks with Spanish telecommunications provider Telefonica SA about the possible sale of BellSouth’s Latin American operations. The U.S.-based carrier previously acknowledged it was in discussions about the possible sale of its Latin American operations, which currently serve more than 10 million customers in 10 countries, but did not name potential buyers.

Telefonica, the largest telecom provider in Latin America, said its Telefonica Moviles wireless division was in talks to buy BellSouth’s Latin American wireless assets, which have been valued at more than $6 billion.

BellSouth recently pledged $16 billion to its Cingular Wireless L.L.C. subsidiary to acquire rival AT&T Wireless Services Inc.

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