Telefónica’s share price has made a strong recovery so far this year and is now trading around 10,3 euros, meaning it has gained no less than 31% from last year’s minimum levels. New executive chairman Jose María Álvarez-Pallete has played a big part in this comeback.
Telefonica sale Telxius
Nearly six months after Telefonica announced the IPO of its infrastructure affiliateTelxius, venture capital firm KKR said it plans to buy 40% of the company for 1.275 billion euros, or 12.75 euros per share. So one headache less for the Spanish telecommunications giant.