Telefonica to sell Czech unit in €2.47B deal

As flagged, Telefonica (TEF) has agreed to sell a 65.9% holding in its Czech telecom unit to PPF Group, the investment company of local billionaire Petr Kellner, for €2.47B ($3.4B).

The Spanish carrier, which will retain a 4.9% stake, will receive €2.06B up front and €404M over four years.

The transaction is part of Telefonica's sale of none-core assets as it looks to raise capital to pay off its massive debt. (PR)

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs