MADRID | The Corner Team | Telefonica is preparing a sale of its stake in the Czech Republic’s biggest phone company to raise cash for further industry consolidation, according to three sources familiar with the deal who preferred to stay anonymous. The stake had a market value of about $3.6 billion before Monday’s increase. The stock rose as much as 6.9 percent.
The Corner Team | The deal for Spain’s Telefonica to raise its stake in Telco and control Telecom Italia will be ready before Friday, according to Economía Digital. An operation that prevents Carlos Slim, through America Movil, or American competitor AT&T from taking positions in the Italian market. Telefónica’s peace of mind is worth 324 million euros ($437 million).
The Corner Team | Spanish Telefónica is in talks to become the main shareholder of Telco, Telecom Italia’s holding company, which is struggling with a millionaire debt and a fiercely competitive market, Dow Jones reports. The proposal under discussion would have Telefónica increasing its stake to 70% before next week.
LONDON/MADRID | Telefonica UK selected as preferred communications service provider for Central and Southern regions in UK Smart Meter Implementation Programme.
MADRID | By Francisco López, via consensodelmercado.com | Telefonica had an important reason for its well-timed U-turn: the Spanish corporation wanted to conquer a mature market with scope for expansion.
MADRID | The agreement for the acquisition of KPN’s German subsidiary, E-Plus, includes a total payment of 5 billion euros in cash and a stake in the resulting company of 17.6%.
MADRID | This agreement over a strategy to increase the Spanish fibre optic network represents a leap forward in bringing this technology to more households and businesses across the country.
MADRID | The agreement is expected to positively impact reduction of Telefonica’s net debt position by about 780 million euros, without considering the additional deferred payment.
MADRID | By Julia Pastor | The rumour about a friendly takeover bid from the US telecomunications group AT&T to acquire 100% of Telefónica has moved the Madrid Stock Exchange on Monday. The offer would have included a payment of €70 billion as well as the absortion of Telefónica’s €52 billion debt.
MADRID | Telefónica invested 1,941 million euros in the first quarter of the year, including the acquisition of spectrum in the United Kingdom and Uruguay. 82% of the total investment was in growth areas, specifically 3G, 4G and fibre networks.