TNBiz (TNBiz)
Markets  |  April 04, 2013 18:15:08

Telefónica Czech will probably sell

According to people who do not wish to be named, are high on the list of possible asset sales, Czech and Irish division. Other candidates sale is the remaining minority stake in the second largest Chinese mobile operator China Unicom and assets in the five countries of Central America. But so far, management of nothing decided yet and neither has hired a bank that would advise the sale of assets.

A spokesman for the Spanish Telefonica declined to comment on the report.Company boss César Alierta last year began selling assets and suspended dividend payments because Telefónica was under pressure to downgrade, which would raise the cost of business loans. Following the sale of shares in the German division, however, eased the pressure on the company and Telefónica halted plans to sell shares in Latin American Division, the sales group accounts for about half.

If Telefónica reduced its stake in the Czech division from 69 to 50 percent, would gain by about a billion euros (almost CZK 26 billion), said to conjectures Investment Company FM Capital Partners, another billion euros could yield the Irish division and sale of assets in CentralAmerica. Sale of the remaining five percent in China Unicom would Telefonica acquired $ 1.6 billion (32 billion CZK).

Czech brokerage Brokerjet server wrote that speculation about Telefonica's Czech sales are nothing new. Last year for her alleged interest group PPF. The current share of the Spanish Telefonica SA Telefonica Czech Republic has a value of about 2.6 billion euros. J & T Bank does not expect that Telefónica was able to sell about 20 percent of the Czech division of the fact that it remained 50 percent.

After a wave of acquisitions over the last decade, $ 85 billion debt to last Telefonica 31st December was € 51.3 billion, and still exceeded the value of the company. Telefonica's shares for the past 12 months fell by 11 percent, while the index of the Madrid Stock Exchange IBEX stayed in that time almost unchanged.

In the Czech Republic Telefónica Czech Republic's largest telecommunications company. Czech division operating profit last year fell by 9.2 percent to 19.8 billion and revenues fell by 3.5 percent to 50 billion crowns.

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