Telefónica S.A., a shareholder of Telefónica del Perú, has filed a request for arbitration against Peru before the International Center for the Settlement of Investment Disputes (ICSID), which has already been registered by the entity's secretary general to initiate the process.

Through a letter sent to the government, the shareholder notified the existence of said controversy, which "affects their investments in the country."

Telefónica S.A. ensures that Sunat and other state agencies "fail to comply with the obligations established in the APPRI (Agreement for the Promotion and Reciprocal Protection of Investments between Spain and the Republic of Peru)", signed in 1994.

"The period granted by APPRI to reach a friendly solution between the parties to this international dispute has expired without success. The company has invested more than US$ 8.051 billion in deploying infrastructure on a national scale since it arrived in Peru 27 years ago, and in all this time it has paid more than US$ 2.683 billion in Income Tax”, argued the operator.