MADRID ( Dow Jones) Telefonica SA He said on Wednesday that will keep your financial goals and dividend policy although the European Commission has decided to block the sale of its British subsidiary O2 Holdings Ltd. Hutchison CK
Telefónica expects to close the year with an increase sales than 4%.
In addition, the telecom operator has set the commitment to pay a dividend of 0.75 euros per share.
The European Commission formally announced Wednesday its decision to reject the acquisition of O2 by Hutchison considering that would result in higher prices and fewer choices for British customers, and have hampered the deployment network in the country.
Telefonica said in late April that studied different alternatives for its UK subsidiary if the sale does not materialize.
Specifically, the CFO and strategy Telefónica, Angel Vilá said during the presentation of the results of the first quarter that the Spanish group could opt for a partial sale, the loss of control in O2 or any option that includes a corporate operation.
The sale of O2 is part of Telefonica’s plan to reduce the high debt accumulated during their years of internationalization under the baton of former President Cesar Alierta.
Vilá said that in addition to the operation in the UK, Telefónica includes various options to reduce its debt, as the IPO of its subsidiary infrastructure, Telxius, the sale of non-strategic assets or divestment of minority shareholdings, including Mediaset Premium
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