Telefonica to Sell off Data Centers Through New Subsidiary -Cinco Dias
November 21 2018 - 06:14AM
Dow Jones News
--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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