Spanish company TELEFONICA has reached an agreement with US company BELSOUTH for buying the latter's operations in around ten wireless-based companies in Latin America. The total value of USD 5.85 bn is being discussed for a price of the assets, including debt. One this deal is concluded, TELEFONICA MOVILES, subsidiary of TELEFONICA's mobile phone business, will have a total of 62.5 million customers including 41 million in Latin America, where the company will become the main mobile phone operator. TELEFONICA had a turnover of EUR 28.4 bn in 2003, 10.4 bn of which came from Latin America.