Telefonica to Get $5.5B Dividend Before German IPO

Telefonica SA, the Spanish phone company battling with growing debt and a potential rating cut, received a dividend of 4.3 billion euros ($5.5 billion) from its German business weeks before kicking off the unit’s initial public offering, according to documents seen by Bloomberg News.
Sales Top Estimates as Auto Show Rolls Into NYC
11:24 - Kelley Blue Book Senior Director of Insights Karl Brauer discusses U.S. auto sales which beat estimates in March. He speaks with Bloomberg’s Pimm Fox on “Taking Stock.” (Source: Bloomberg)
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