Telefónica will proceed with its planned exit from Venezuela despite recent political shifts in the South American nation, the company’s executive chairman, Marc Murtra, confirmed Tuesday.
Speaking during a presentation of Telefónica’s 2025 financial results, Murtra stated the company’s “roadmap” for leaving Venezuela remains unchanged, even as the country experiences a “novel geopolitical context.” “It is true that the situation in Venezuela has varied, but our roadmap has not. That does not affect what we do, our objectives, or the process we have set for ourselves,” Murtra said, according to a statement released by the company.
The decision comes as Telefónica continues a broader strategy of divesting from Latin American markets. The company has already completed exits from Colombia and Chile in 2026, following sales of its operations in Argentina, Peru, Uruguay and Ecuador in 2025. Mexico remains another key market where Telefónica is planning to reduce its presence, though Murtra declined to comment on specifics regarding the ongoing process there, citing the require for discretion during negotiations.
Telefónica reported losses of approximately 4.3 billion euros in 2025, partially attributed to restructuring costs and divestitures in Latin America. The company’s annual results were presented to media on February 24th.
While acknowledging the change in Venezuela’s political landscape following the recent shift in administration, Murtra indicated that Telefónica’s strategic direction will not be altered. This contrasts with a recent decision by BBVA to reassess its position in Venezuela following the change in leadership, according to reports.
Murtra also highlighted Telefónica’s focus on potential consolidation within the European telecommunications sector, noting “advances” toward facilitating such a process. He refrained from commenting on specific merger and acquisition activities, stating the company adheres to a strict policy of not discussing ongoing negotiations until they are finalized.
