Spanish incumbent Telefonica sees no need to IPO its British unit after listing operations in Germany, according to the CEO of the telco’s UK subsidiary O2.
In a television interview, Ronan Dunne said he had been given assurances of Telefonica’s…
Spanish incumbent Telefonica sees no need to IPO its British unit after listing operations in Germany, according to the CEO of the telco’s UK subsidiary O2.
In a television interview, Ronan Dunne said he had been given assurances of Telefonica’s commitment to the UK through the investments it is making to deploy a 4G network next year.
Although an IPO was possible for its operations in Latin America, Dunne said the company was already making good progress in reducing its debt.
His comments follow reported analyst suggestions that the company could consider listing O2 UK in the first half of 2013 to further reduce its debt pile, a move that would reportedly draw considerable interest from private equity.
Telefonica expects to have reduced its debt to €50bn at the end of the year, down from €58bn in 2011.
