Telefonica hangs up on Czech Rep

LAST UPDATED: 5 Nov, 2013 @ 17:59
1
SHARE
Telefonica hangs up on Czech Rep

TELEFONICA has agreed to sell its Czech business in a deal worth almost €2.5 billion.

It is the latest in a raft of recently-completed deals aimed at reducing the telecoms company´s debt pile.

Telefonica, which is Spain´s largest telecoms provider, is also looking to focus on other markets, including Brazil and Italy.

It is particularly keen to bid on TIM Brasil, a subsidiary of Italian telecoms company Telecom Italia Media.

The Czech business, which contributed around 3% of the company´s total revenue is to be sold to investment group PPF, owned by the Czech Republic´s richest man Petr Kellner.

JOIN THE CONVERSATION...

The Olive Press are not responsible and do not moderate individual comments before they are posted. Anyone who uses racist, sexist, homophobic or xenophobic language or hate speech will be blocked.

HAVE YOUR SAY...