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.