Spanish incumbent Telefonica’s board today approved plans to list over 50% of its call centre business Atento on the Spanish stock market, the company explained in a regulatory announcement.
Earlier this week, TelecomFinance confirmed reports of the…
Spanish incumbent Telefonica’s board today approved plans to list over 50% of its call centre business Atento on the Spanish stock market, the company explained in a regulatory announcement.
Earlier this week, TelecomFinance confirmed reports of the listing, the price of which will be set around 9 June. Atento has a reported enterprise value of some E1bn.
The transaction, aimed at reducing debt, will be jointly coordinated by Citigroup and Goldman Sachs. Banco Santander, BNP, JP Morgan and BBVA are set to be bookrunners.
Telefonica has also been trying to list a portion of Atento for some time. A planned flotation of a 20% stake in the group was called off in 2008 because of the difficult economic climate.
