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--Telefonica is planning to create a subsidiary in order to sell off its data-processing businesses, Spanish daily Cinco Dias reports, citing unnamed sources.
--The Spanish company will package its 25 data centers--currently spread out across Telefonica subsidiaries in nine countries--into a separate company that will then be fully or partially sold off as part of a wider plan by the telecommunications giant to pare down its debt, according to Cinco Dias.
--The divestment could generate up to 1 billion euros ($1.14 billion) that Telefonica would put toward reducing its debt pile of EUR42.63 billion, Cinco Dias says.
Full story: https://bit.ly/2DBejX6
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(END) Dow Jones Newswires
November 21, 2018 05:59 ET (10:59 GMT)
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