Spanish telecoms group Telefonica has said it plans to list its German unit on the stock exchange in the fourth quarter of the year. ‘We have decided swift action including preparation for an initial public offering (IPO) of Telefonica Germany in the fourth quarter,’ Reuters cites company chairman Cesar Alierta as saying during an analyst conference call. Last week it was reported that Telefonica had hired UBS and JP Morgan Chase & Co to prepare an IPO for Telefonica Germany, which provides services under the brand O2.
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OVETEL Telefonica to float German unit in Q4
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