Telefónica

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.

 


Telefonica Brasil did not correctly reflect incentives in its registers

Alphavalue | Telefonica´s poor figures for Q119 traded with falls of 31%. Sales of 11.98 Bn€ › 11.81 Bn€ estimated by the consensus. Our analysts highlight that the operator improved income in all the geographic areas where it is present, especially in Spain and Brazil, its two main markets.


Telefonica misses EBITDA forecast without IFRS 16 extraordinary payments

Renta 4 | The results have exceeded forecasts for income (+1% vs R4e and consensus) and have missed those of the consensus for EBITDA excluding the impact of IFRS 16 (+414 M€) and extraordinary payments (+120 M€ vs +100M€ foreseen) by -3%, while remaining slightly above ours (+0.5%).



Telefónica sells its data centers to reduce debt

Banc Sabadell | Telefonica will decide in the coming days between the binding and final offers it has on the table, namely Digital Realty, Equinix and Brookfield’s. The price would be around 500/600 million euros. The Spanish tech company has 23 data centers in 9 countries.


Telefonica ever closer to selling its Central American subsidiary

High acceptance (72%) of Telefonica’s hybrid bonds

Renta 4 | Telefónica has announced the result of the repurchase of the 2 hybrid bonds which it issued on 5 March. The nominal aggregate value which Telefónica will accept to purchase the bonds has reached 934.7 million euros, of which 586.5 million euros corresponds to the bond with maturity in December 2019 and 348.2 million euros with maturity in March 2020.