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Telefonica Considers Stock Market Listing for LatAm Subsidiaries
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Spain's Telefonica is reportedly considering following up the recent stock market listing of its German subsidiary with similar moves in Latin America.
However, the indebted company would list the Latin American companies on one of the USA stock exchanges, not on the local bourses.
Without citing sources, the Spanish language Expansion wrote that Telefonica has considered folding the Latin American networks into a new Spanish holding company, and floating a minority stake in New York.
The move would be designed solely to pay down group debt, and would only take place if group debt continues to be a concern to investors.
The company currently has around EUR56 billion of debt, but expects to reduce that to EUR50 billion by the end of this year.
Tags: [telefonica]
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