Telefonica suspends LatAm IPO plans – report

News General Latin America and the Caribbean 12 FEB 2013
Telefonica suspends LatAm IPO plans – report

Telefonica has suspended preparations for an initial public offering of its Latin American business after a stake sale in its German unit and a bond issue relieved funding needs, Bloomberg reports, citing unnamed people familiar with the matter.

Telefonica plans to resume the project only if there is strong investor appetite or pressure from rating companies increases, the sources added. A sale could raise around EUR 6 billion, the finance chief of Telefonica’s Brazilian unit said in December 2012.

Back in May 2012, Telefonica announced it was studying a possible listing of its Latin American business to help reduce debt.

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Telefonica- Movistar

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Latin America and the Caribbean

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