Renta 4 | Telefónica HispAm, 100% owned by Telefónica, has sold the 99.3% stake it held in Telefónica del Perú to Integra Tec International. Furthermore, and as part of the agreement, Telefónica HispAm has sold to Integra the tax credits of up to €39 million that the former granted to Telefónica del Perú in February due to its financial restructuring. The sale price of its stake and the credits is…
Telefónica has agreed with Millicom to sell all the shares it holds in Colombia Telecomunicaciones, representing 67.5% of its share capital, for approximately $400 million, as reported by the company to the CNMV. This represents an equity value of more than seven times EBITDA and the deconsolidation of debt of nearly €1.2 billion. “This operation is part of the asset portfolio management policy of the Telefónica Group and is aligned…
The executive chairman of Telefónica, Marc Murtra, emphasized on Monday in Barcelona, during his participation in the opening session of the Mobile World Congress (MWC), the need for Europe to allow consolidation in the European telecommunications sector so that operators can gain size and strengthen their technological potential. “We must be aware that the excessive fragmentation of European TMTs, excessive regulation, and insufficient profitability in the sector have hindered Europe,…
Link Securities | The president of Argentina, Javier Milei, has threatened to block the sale of Telefónica (TEF) in the country to Telecom, considering that it would create a monopoly formed thanks to decades of state benefits, according to Bolsamania.com. Depending on the versions circulating about the potential acquisition of Telefónica by Telecom, of the Clarín Group, the National Communications Agency (ENACOM) and the National Commission for the Defence of…
Link Securities | Telefonica’s Brazilian subsidiary has initiated a process of grouping and then splitting its shares in order to reduce operating and administrative costs and be more efficient in distributing profits to the firm’s shareholders, digital portal Bolsamania.com reported on Friday. According to the company, which operates under the name Vivo, the move will be put to a vote at an extraordinary general meeting on 13 March. If approved,…
Renta 4 | Telefónica (TEF) has hired J.P. Morgan to study the sale of its subsidiary in Argentina, according to press reports. The potential buyers are local companies. MiliCom also stands out, to which Telefónica has already sold several Latin American subsidiaries and is in the process of selling the Colombian one. In addition, Telefónica Peru has sent a relevant fact in which it highlights that it is in talks…
The Saudi group STC is now the owner of 9.97% of Telefónica’s share capital and will engage in discussions with the operator to obtain a seat on the Board of Directors, according to a communication sent by its investment vehicle Luxco to the U.S. Securities and Exchange Commission (SEC). The STC group, which previously held 4.9% of Telefónica directly, received authorization from the Spanish government last November to control up…
Norbolsa | Telefónica España has awarded the second phase of the replacement of the core of its 5G network to the Finnish company Nokia. With this award, and after awarding another part to Ericsson in 2021, it has completed the elimination of Huawei technology from its 5G core. This change is part of a strategy of supplier diversification, as well as the withdrawal of Chinese technology. The core network is…
Link Securities | The government, with the appointment of Marc Murtra as executive chairman of Telefónica, plans for the operator to take control of all or part of Indra’s technology subsidiary, Minsait, according to information from El Periodico reported by Bolsamania.com. With this major corporate move, the executive aims to create a national telecommunications and technology champion. At the same time, it would also enable Indra to gain weight in…
Last Saturday, in an extraordinary meeting, the board of directors of Telefónica accepted the resignation of Álvarez Pallete – agreed upon the day before at Moncloa – and the appointment of Marc Murtra, who was until then the president of Indra. Murtra had similarly ascended to the presidency of Indra after a government maneuver. Murtra, a man close to the PSC, finds himself with a company whose shares are trading…