Telefonica Mulling Sale of Fixed Network to Recover Stock Market Value

The board of directors of Telefonica has opened discussions on the possible sale of part of its fixed line network in Spain with a view to lowering debt and increasing its stock market value, according to unnamed company sources cited by El Confidencial. Concern about the downward trajectory of Telefonica’s stock market value, which is down 9 percent this year alone and has fallen 25.76 percent since Cesar Alierta appointed Jose María Alvarez-Pallete as the company’s chairman in March 2016, has prompted some directors to propose selling part of the company’s infrastructure network, the largest in Europe, said the report. – Telecompaper