Spanish telecoms group Telefonica plans to launch the IPO for its German unit in the fourth quarter of this year.
During a conference call with investors today, Telefonica chairman Cesar Alierta said: “We have decided swift action, including…
Spanish telecoms group Telefonica plans to launch the IPO for its German unit in the fourth quarter of this year.
During a conference call with investors today, Telefonica chairman Cesar Alierta said: “We have decided swift action, including preparation for an IPO of Telefonica Germany in the fourth quarter”.
The listing of the German unit forms part of the company’s comprehensive strategy to cut debt, improve liquidity and reduce risk. Today, the company said its next actions also include assessing potential listing options for its Latin American businesses and making “selective asset monetisations” when market conditions are right.
As reported earlier today, Telefonica is also said to be close to selling its Spanish call centre Atento to US private equity firm Bain Capital.
