Telefónica rises to the possible interest in a Latin American holding company in Telefónica Hispanoamérica
A Latin American investment consortium would be considering the formation of a holding company to keep 51% of Telefónica Hispanoamérica, according to El Mundo. According to the aforementioned newspaper, according to this proposal, the remaining 49% would be distributed among other smaller shareholders and Telefónica itself (with 20-25%). In this way, and according to this information, Telefónica would obtain a liquidity of at least 10,000 million euros selling 80/75%. This proposal would only have been communicated to Telefónica in a first contact.
The news is encouraging Telefónica on the stock market today, which is up 1.33% at this time. The experts of Banco Sabadell say that the news is not surprising since, after the announcement of the new strategic plan (on November 27, 2019), the company has already stated its intention to seek alternatives to maximize the value of its assets. Latin America, which ceased to be core for the group. "We believe that corporate movements of this draft would clearly act as a catalyst for a very punished action," they add.
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