Spain's biggest phone company, Telefonica, is set to sell a stake in its German unit, in an effort to reduce its debt.
The company's debt is mainly a result of the recession in its home market.
The German business is worth an estimated €10 billion and the sale could help Telefonica bolster up its finances.
"If Telefonica lists part of its German business, they can keep a controlling stake and raise a significant amount of cash to pay down debt," said Moody's analyst, Carlos Winzer.
The calendar you're trying to add has already been added to this event.
This is not a valid number
You are about to leave this page. Any changes you made will not be saved.
Are you sure?
What kind of event would you like to create?