Link Securities | Telefónica (TEF) is finalising its new strategic plan, which could include a review of its shareholder remuneration policy. According to the digital newspaper Vozpópuli.com, the telecommunications company is considering the possibility of eliminating or cutting dividends in favour of greater financial control and liquidity for new acquisitions.
In fact, Telefónica, which will present its next roadmap to the market on 4 November, is seeking to grow in Europe through acquisitions and mergers, and to do so it needs cash liquidity. Furthermore, at the end of August, Vozpópuli.com also reported that the operator was going to propose a capital increase with the support of its main shareholders (the government through SEPI (the State Company for Industrial Investments); the Saudi operator STC and CriteriaCaixa).
