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    TEF   ES0178430E18

TELEFÓNICA, S.A.

(TEF)
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Telefonica S A : to Form Brazil Joint Venture for Construction, Operation of Fiber Network

03/03/2021 | 01:24am EDT

By Joshua Kirby

Telefonica SA said Wednesday that its Brazilian subsidiaries have agreed to form a joint venture for the construction and operation of a fiber network in the country, alongside Canadian investment fund Caisse de Depot et Placement du Quebec.

The Spanish telecommunications company said Telefonica Brasil SA and Telefonica Infra will share a 50% stake in the joint venture, to be named FiBrasil Infraestrutura e Fibra Otica, with CDPQ holding the other half. The fund will invest up to 1.8 billion Brazilian reals ($317.1 million) in the joint venture, Telefonica said. Meanwhile, Telefonica Infra will also make payments for its 25% stake. Telefonica Brasil will contribute some 1.6 million fiber-equipped homes and will be the anchor tenant of FiBrasil.

FiBrasil will construct, develop and operate a fiber network in mid-sized cities outside of the state of Sao Paulo, Telefonica said. The transaction is subject to regulatory approvals.

Write to Joshua Kirby at joshua.kirby@dowjones.com; @joshualeokirby

(END) Dow Jones Newswires

03-03-21 0123ET

Stocks mentioned in the article
ChangeLast1st jan.
TELEFÓNICA, S.A. -1.29% 4.1175 Delayed Quote.26.89%
TELEFÔNICA BRASIL S.A. -0.64% 41.84 End-of-day quote.-10.02%
All news about TELEFÓNICA, S.A.
09/17TELEFONICA SA : Receives a Buy rating from Berenberg
MD
09/16TELEFÓNICA S A : Telefónica and K will boost innovation with Leadwind, a fund of..
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09/15TELEFÓNICA S A : Rakuten and Telefónica launch an app that lets consumers browse..
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09/14TELEFÓNICA S A : Telefonica Forms Licensing, Distribution Partnership with Zoom
MT
09/14TELEFÓNICA S A : Telefónica Tech partners with Zoom to offer next-generation col..
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09/14TELEFÓNICA S A : Telefónica and NEC to build Open RAN live pilots in 4 global ma..
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09/13Telefonica Enlists Goldman Sachs for Sale of 50% Stake in British Mobile Mast..
MT
09/13TELEFÓNICA S A : Telefónica to Sell Stake in UK's Cornerstone for $2.4 Billion
MT
09/13VODAFONE : Telefonica hires Goldman Sachs to sell UK mobile masts stake, El Conf..
RE
09/13Telefonica Reportedly to Sell Its 50% Stake in Cornerstone Tele Infra
CI
More news
Analyst Recommendations on TELEFÓNICA, S.A.
More recommendations
Financials
Sales 2021 39 196 M 45 961 M 45 961 M
Net income 2021 9 878 M 11 583 M 11 583 M
Net Debt 2021 33 778 M 39 608 M 39 608 M
P/E ratio 2021 2,45x
Yield 2021 7,29%
Capitalization 23 056 M 27 058 M 27 036 M
EV / Sales 2021 1,45x
EV / Sales 2022 1,46x
Nbr of Employees 111 490
Free-Float 89,3%
Chart TELEFÓNICA, S.A.
Duration : Period :
Telefónica, S.A. Technical Analysis Chart | TEF | ES0178430E18 | MarketScreener
Technical analysis trends TELEFÓNICA, S.A.
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 30
Last Close Price 4,12 €
Average target price 4,66 €
Spread / Average Target 13,3%
EPS Revisions
Managers and Directors
José María Álvarez-Pallete López Executive Chairman & Chief Executive Officer
Laura Abasolo García de Baquedano Chief Financial & Control Officer
Alejandro Ramos Chief Information Security Officer
Ángel Vilá Vilá Boix Chief Operating Officer & Director
Peter Erskine Independent Non-Executive Director
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1st jan.Capi. (M$)
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