Deals
Telefonica CEO Turns to Latin America After German IPO
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Telefonica SA Chief Executive Officer Cesar Alierta, having lowered the Spanish phone company’s debt by 5.5 billion euros ($7 billion) from asset sales in Europe and Asia, has won additional time to decide on a separation of its Latin American business.
“We do not need to do that transaction, but we may decide to do it depending on what provides the best value for our shareholders,” Finance Chief Angel Vila told analysts today when asked about plans for an initial public offering of the business. “We are still in the process of internal analysis.”