Telefónica exploring possible sale or merger of assets in Latin America

The president of Telefónica, José María Álvarez-Pallete, said that the company is exploring how to value some assets that may be “undervalued” in Latin America, for which they are analyzing possible mergers, sale of assets or network sharing agreements, according to Europa Press.
“We are very focused on returns on capital employed and at any time we will explore how to value assets that from our point of view may be undervalued in the sum of Telefónica’s parts,” said the executive during the presentation of 2017 results, last week.
Álvarez-Pallete avoided commenting on “specific operations” because the company prefers to announce them “when they are ready to be implemented”.
In 2017, Telefónica’s full year profit was €3,132 million (USD 3,850 million), up 32.2% year-on-year. The company reduced its debt by € 4,400 million (USD 5,408 million) in the last year. Revenues increased only in Brazil (+ 8.4%). In Hispanoamérica, revenues decreased by 0.2%.