Telefonica Pulls Sale of O2 as Brexit Foils Debt Cut Plans

  • Carrier to consider options amid roiling post-Brexit markets
  • Company comments on U.K. unit in Spanish regulatory filing

Telefonica SA shelved plans to sell a stake in its wireless carrier O2, as Britain’s decision to leave the European Union roiled markets and created a final, insurmountable hurdle to a 15-month sales effort aimed at cutting debt.

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