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| Name | Symbol | Market | Type |
|---|---|---|---|
| Telefonica SA | NYSE:TEF | NYSE | Depository Receipt |
| Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 4.43 | 0 | 11:30:00 |
From May 2019 to May 2024
By Jeannette Neumann
MADRID--Telefonica SA (TEF) plans to sell shares in its Telxius infrastructure unit at 12 euros ($13.41) to EUR15 a share, part of the Spanish telecommunications giant's plan to raise funds to reduce debt.
Telefonica said in regulatory filing on Tuesday that the price range values its Telxius unit between EUR3 billion to EUR3.75 billion. It will seek to sell up to 40% of the unit. Telefonica said it expects the final price to be set on Sept. 29 and shares to start trading on Oct. 3.
Telefonica said earlier this month that it had also "begun the preparatory work" for a potential IPO of O2, its British mobile operator.
Raising cash by floating off businesses is part of the operator's effort to reassure investors and credit-ratings firms that it is focused on reducing debt of more than EUR50 billion, analysts say.
Write to Jeannette Neumann at jeannette.neumann@wsj.com
(END) Dow Jones Newswires
September 20, 2016 08:28 ET (12:28 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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