Alphavalue/Divacons | A total of 213 employees have voluntarily accepted the redundancy plan at Movistar Plus +, and all applicants will leave the company, according to union sources. The deadline closed on Friday and the figure was within the expected range (between 175 and 242 departures). In the other companies affected by the redundancy plan, the minimum agreed departures have not yet been covered by volunteers and follow-up meetings between the company and the unions are still pending.
Meanwhile, a leading US bank has revised its valuation of Telefónica (TEF), lowering its target price to €3.7 per share from its previous estimate of €3.9 per share.
Despite this cut, the financial institution has decided to reiterate its ‘neutral’ recommendation for the stock. According to the bank’s analysis, this adjustment responds to a scenario conditioned by two main factors: 1) Corporate uncertainty: doubts about the outcome of potential consolidation operations or strategic moves by the group. 2) Competitive pressure: a complex market environment in some of its key geographical markets, which could limit the operator’s growth margin in the short term.
Telefónica: Buy, Target Price €5.49/share.
