Telefonica SA : Telefonica Said to Eye Sale of 20% of O2 Germany
06/05/2012| 11:26am US/Eastern
Telefonica S.A. (TEF), Spain's biggest phone company, is mulling an initial public offering of a 20% stake in its O2 Germany unit, aimed at raising as much as EUR2 billion, Bloomberg News reported Tuesday, citing three people familiar with the matter.
The potential move comes as Telefonica seeks to reduce debt by between EUR6 billion and EUR8 billion this year, Bloomberg reported, citing a source.
A Telefonica representative declined comment to Bloomberg.
Full story at: www.bloomberg.com
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