Telefonica Leads Spain Losses After Sanchez Pushes CEO Out
Marc Murtra
Photographer: Kike Rincon/Europa Press/Getty ImagesThis article is for subscribers only.
Telefonica SA’s shares fell after Spain’s Socialist government surprised investors by pushing out the carrier’s long-standing top executive.
The stock fell as much as 4.3%, and was the worst performer in the Ibex-35 and Stoxx 600 Telecom indexes.