Spanish telecoms group Telefonica will reportedly kick start the initial public offering (IPO) of its German unit this week with a pitch to investors based on the strength of the local mobile market, Reuters reported on Friday, citing three people familiar with the matter. Telefonica, which is struggling to cut its debt burden amid falling revenue and profit in its domestic market, is aiming to raise as much as EUR1.5 billion (USD1.8 billion) from the sale of a potential 20% stake in Telefonica Germany (O2), according to reports
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OVETEL Telefonica set to kick off German IPO, report says
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