Vauban and Predica, which submitted their binding offer for the asset on Tuesday 19 July, had made the best proposal and had been negotiating since Thursday to iron out the details of the deal. The price of 1,021 million euros paid by the buyers for 45% of the capital values 100% of the company at US$2,561 million, which Telefónica says is “an implied multiple of 27.1 times the company’s pro…

Telefónica España workers have almost unanimously rejected the proposal to voluntarily opt for a four-day working week, which entailed a corresponding pay cut, although the company compensated with a 20% bonus. With just four days left before the deadline to join the plan, barely 1% of the workforce has signed up, according to EL PAÍS today, citing sources in the negotiations. The main reason for this lack of interest on…

Renta 4 | There are various finalists for participating in the capital of Telefónica’s rural fibre optic network (FET) in Spain, according to several media outlets. Allianz, CDPQ (Quebec pension fund), PGGM (Dutch pension fund) and Vauban Infraestructure Partners (Natixis Group) would be the finalists to buy 45% of the rural fibre network in Spain. However, there could be some other incorporation or exit. Allianz y CDPQ could team up as a consortium.  Final, binding proposals…