Spanish telecoms group Telefonica has confirmed that it plans to list its German unit on the Frankfurt Stock Exchange by the end of this year. In a company press release, Telefonica, which is struggling to cut its debt burden amid falling revenue and profit in its domestic market, said it will remain the majority shareholder of Telefonica Germany (O2). The company has not yet confirmed what percentage of capital it will list, although recent press reports have suggested that it is aiming to raise as much as EUR1.5 billion (USD1.8 billion) from the sale of a potential 20% stake in Telefonica Germany
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OVETEL Telefonica confirms 4Q12 for IPO of German unit
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