Telefonica could list Latin American subsidiaries in 2013, to cut debt, Reuters reports, citing chief financial officer Angel Vila. Telefonica says a spin-off of Latin American businesses via a share sale is an option as it works to cut borrowings built up over a decade of expansion. "No decision has been taken on such a transaction but we are working on preparations in case we decide to move ahead with it," Vila said.
Telefonica Latin American Chief Executive Santiago Fernandez Valbuena previously said that a sale could take place next year. Telefonica has just listed part of its German 02-branded division and has sold its call center business Atento. The group has also scrapped its dividend for 2012. "We are pointing towards 50 billion euros of net financial debt by year-end," CFO Vila said.
We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.
We have been keeping professionals in the telecoms industry up-to-date since 2000. Telecompaper is a well respected, independent research and publishing company focussed on the telecommunications industry.
3995 AA Houten
Phone: +31 30 6349600
Fax: +31 30 6349699
P.O. Box 356
3990 GD Houten
© 2000 - 2014 Telecom.paper BV. All rights reserved.
Telecompaper is a trademark of Telecom.paper BV. No part of this site can be reproduced without
the expressed permission of Telecom.paper BV. Our General Terms and Conditions can be found here.
Terms and Conditions