After selling Nicaragua (390 M€, NFD -1%) Telefonica leaves Central America
Banc Sabadell | Telefonica (TEF) confirmed last week the sale of its subsidiary in Nicaragua for 390 M€ and so completes the sale of all its activities in Central America for a total of 2.052 M$/reduction of debt by 1.4 M€ (7.4x OIBDA 2018 vs our valuation of 6/7x for all the subsidiaries). The Spanish telco will reduce its net financial debt by 1% with this operation.