Telefonica hires Morgan Stanley to seek tech unit investor - report

Nieuws Algemeen Spanje 27 JAN 2020
Telefonica hires Morgan Stanley to seek tech unit investor - report

Telefonica has appointed US investment bank Morgan Stanley to help it find an investor for another of its assets, the new Telefonica Tech unit it created last year, according to unnamed financial sources cited by local news portal El Confidencial. The operator is looking to divest a minority 49 percent stake in the technological division set up to encompass its cybersecurity, IoT / Big Data and cloud computing businesses, said the report. Telefonica previously said the unit would contribute a EUR 2 billion in additional group revenue by 2022.

Earlier this month, Bloomberg reported that Morgan Stanley has also been hired to carry out an analysis of Telefonica’s operations in Latin America, which the Spanish company intends to spin off as part of a wide-ranging restructuring plan announced in November. The Telefonica Hispam unit comprises all of Telefonica’s Latin American subsidiaries, with the exception of Brazil, and has already reportedly attracted interest from a Colombian-led consortium.



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Algemeen

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Telefonica

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Wereld

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Spanje

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Shareholders & subsidiaries, Wholesale, Financial funding, M&A buyouts & divestments

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