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HomeBreadcrumbCalendarsBreadcrumbNational AffairsBreadcrumbSpain Affairs

Telefonica to sell stake in its German unit

days between Mid June and Early September
Germany

Published: 31 May 2012 | By Maria Micudova and 1 other | Last updated: 31 May 2012
   
Telefonica to sell stake in its German unit -
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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.






Source
bbc.co.uk www.bbc.co.uk
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Created by Maria MicudovaCreated by Maria Micudova
on Thu 31 May 2012
Modified by Eva HSLast modified by Eva HS
on Thu 31 May 2012
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Location: Germany
Earliest date: Monday 18 June 2012
Latest date: Monday 10 September 2012
Planning: to be confirmed
Ended: 251 days ago

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