America Movil, Entel Make Joint Bid for Telefonica Chile (2)

Mexico’s America Movil SAB de CV and Chile’s Empresa Nacional de Telecomunicaciones SA are working on a joint bid for Telefonica’s Chile unit, according to people familiar with the matter.

America Movil, which already operates in the country through ClaroVTR, would be interested in the mobile phone business of Telefonica Chile, while Entel would take the fixed-line segment, according to the people, who asked not to be named because the talks are private.

The deal would represent a consolidation of Chile’s fiercely competitive telecom market. Telefonica is among the four companies that are currently battling it out for ...