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General

Telefonica to delay listing of Argentine subsidiary - report

Monday 18 June 2018 | 12:12 CET | News
Telefonica has put on hold the process to list its Argentine subsidiary on the Buenos Aires stock exchange in view of the ongoing financial crisis in the country, according to unnamed sources cited by Intereconomia. In April the company cleared the way for an IPO of Telefonica Argentina, which Barclays values at around EUR 4.67 billion including debt and accounts for 6.7 percent of the group's total revenues. However, the 46 percent fall in the value of the Argentina peso compared to the US dollar this year means the company is "unlikely" to list the unit this year, said the report.

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Categories: General
Companies: Telefonica / Telefonica Argentina
Countries: Argentina
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