Telefonica Agrees to Sell Antares to Catalana Occidente for EUR161 Million

Date : 11/08/2018 @ 12:29PM
Source : Dow Jones News
Stock : Telefonica Sa (TEF)
Quote : 8.36  -0.15 (-1.76%) @ 3:40PM

Telefonica Agrees to Sell Antares to Catalana Occidente for EUR161 Million

Telefonica (NYSE:TEF)
Historical Stock Chart

1 Month : From Oct 2018 to Nov 2018

Click Here for more Telefonica Charts.
   By Alberto Delclaux 
 

Telefonica SA (TEF.MC) said Thursday that it agreed to sell insurance company Antares to Grupo Catalana Occidente S.A. (GCO.MC) for 161 million euros ($184 million), as part of its asset-portfolio reorganization plan.

The Spanish telecoms group expects the deal to generate capital gains of about EUR90 million and lead to a reduction in net financial debt of about EUR30 million.

Following the transaction, Catalana Occidente will continue managing Telefonica's insurance policies for the next ten years, Telefonica said.

The deal is subject to regulatory approvals.

 

Write to Alberto Delclaux at alberto.delclaux@dowjones.com

 

(END) Dow Jones Newswires

November 08, 2018 12:14 ET (17:14 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.

Latest TEF Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....


No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts


Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.