Telefonica said there are a number of options, such as a total or partial sale, or an IPO if the European Commission blocked the sale of O2 to CK Hutchison by 10.500 million pounds.
Hutchison Three O2 wants to merge to create the UK’s largest mobile operator. However, competition officials in Brussels are reluctant to lose one of four mobile operators in the UK market. They fear that this will increase prices and reduce innovation. A final decision is expected within weeks.
José María Álvarez-Pallete, the new CEO of Telefonica told analysts consider other options. “You can not rule out a negative decision,” he said.
Angel Vilá, CFO of Telefónica, said the group is in no hurry, and opened the possibility of raising up to 5,000 million euros in hybrid debt.
Telefónica wanted the money to pay his debt, but says it can cover its dividend this year if necessary. He added that it is obliged to respect an agreement with Hutchison to the second quarter of 2016.
Ronan Dunne, CEO of O2, said the company is “in good shape” and “creates opportunities for us and shareholders “.
for analysts at Haitong Telefonica has” limited options “in the short term. “Cleaving the asset will not allow any input money while selling the asset to another buyer require several months before completed”
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