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Telefonica ( (ES:TEF) ) has shared an update.
Telefónica Hispanoamérica, a subsidiary of Telefónica, has sold its 99.3% stake in Telefónica del Perú to Integra Tec International Inc., along with financial credits related to a commercial credit agreement. This transaction, valued at approximately 3.7 million Peruvian soles, aligns with Telefónica’s strategy to reduce its exposure in Latin America. The sale is part of Telefónica’s asset management policy and includes a public tender offer for minority shareholders. The transaction coincides with Telefónica del Perú’s ongoing insolvency procedure, pending approval by INDECOPI.
More about Telefonica
Telefónica is a major telecommunications company operating primarily in the telecommunications industry. It provides a wide range of services including fixed and mobile telephony, broadband, and digital services, with a significant focus on markets in Europe and Latin America.
YTD Price Performance: 1.38%
Average Trading Volume: 1,620,802
Technical Sentiment Signal: Hold
Current Market Cap: €22.56B
See more insights into TEF stock on TipRanks’ Stock Analysis page.
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