Telefonica May Keep Hold of Subsea Cable Unit in Overhaul
- Executive says networks unit becoming like infrastructure fund
- With competition biting, Spanish carrier needs to cut debt
This article is for subscribers only.
Telefonica SA may defy expectations for an outright sale of its submarine cables and bring in investors to share ownership of the business instead.
The Spanish phone company has been working with advisers to gauge interest from potential buyers. It was hoping to offload the business for about 2 billion euros ($2.4 billion), according to media reports last year.