Integra Tec International, the Argentine company led by José Luis Manzano, has acquired Telefónica del Perú for €900,000. The deal includes assuming more than €1.2 billion in debt, primarily owed to the Peruvian tax authority (Sunat) and bondholders.

Through this acquisition, Integra Tec takes control of 99.3% of the company’s shares, with a commitment to purchase the remaining 0.7% held by minority shareholders. Telefónica del Perú is currently undergoing insolvency proceedings, following tax disputes and regulatory decisions that have impacted its competitiveness. In 2024, the company reported losses of €314 million.

Despite the financial challenges, Telefónica del Perú remains the country’s leading telecommunications provider, serving over 13 million users. Integra Tec aims to revitalize the business through a comprehensive debt restructuring and a new strategic plan, led by newly appointed president Germán Ranftl.

This acquisition adds to Integra Tec’s existing investments in Peru, including stakes in the mining company Volcan and in Inversiones Portuarias Chancay, reinforcing its role as a key player in strategic sectors of the country.