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MarketScreener Homepage  >  Equities  >  Bolsas y Mercados Espanoles  >  Telefonica S.A.    TEF   ES0178430E18

TELEFONICA S.A.

(TEF)
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Telefonica resolves Brazil antitrust issues with GVT deal - sources

09/19/2014 | 05:02pm EST

BRASILIA (Reuters) - Spain's Telefonica SA (>> Telefonica SA) has resolved the antitrust concerns it faced in Brazil by getting rid of its Telecom Italia stake in a deal finalised on Friday to acquire local broadband provider GVT, according to two government sources.

BRASILIA (Reuters) - Spain's Telefonica SA (>> Telefonica SA) has resolved the antitrust concerns it faced in Brazil by getting rid of its Telecom Italia stake in a deal finalised on Friday to acquire local broadband provider GVT, according to two government sources.

Telefonica agreed to buy GVT from France's Vivendi SA (>> VIVENDI) for 7.2 billion euros (5.70 billion pounds) in cash and shares, including its remaining 5.7 percent stake in Telecom Italia SpA (>> Telecom Italia SpA).

By exiting Telecom Italia, whose local wireless carrier TIM Participações SA (>> TIM Participacoes SA) competes with Telefonica Brasil SA (>> Telefonica Brasil SA), the Spanish company has complied with a December ruling by Brazilian antitrust regulator Cade, the two sources said, requesting anonymity due to ongoing deliberations.

Regulators' focus will now be on whether Vivendi's minority stakes in Telefonica and Telecom Italia pose any risk to healthy competition between their Brazilian units, the sources said.

"In theory, Telefonica has resolved its problem, but the concern becomes Vivendi, albeit to a lesser degree," said one of the government sources. "The situation is still not so clear. The concern is there, but it's hard to be sure about any potential restrictions."

The second source said regulators would not necessarily block the deal, but they could require measures to keep Vivendi from weighing in on decisions about the Brazilian market.

(Reporting by Leonardo Goy; Writing by Brad Haynes; Editing by Lisa Shumaker)


© Reuters 2014
Stocks mentioned in the article
ChangeLast1st jan.
EURO / BRAZILIAN REAL (EUR/BRL) -1.31% 6.4172 Delayed Quote.0.82%
TELECOM ITALIA S.P.A. 2.20% 0.3669 Delayed Quote.-4.88%
TELEFONICA S.A. 0.56% 3.772 Delayed Quote.15.59%
TELEFÔNICA BRASIL S.A. -2.26% 45.34 End-of-day quote.0.00%
TIM PARTICIPAÇÕES S.A. -0.88% 13.46 End-of-day quote.0.00%
VIVENDI SE 0.96% 26.4 Real-time Quote.-0.87%
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Financials
Sales 2020 43 354 M 52 488 M 52 488 M
Net income 2020 1 821 M 2 205 M 2 205 M
Net Debt 2020 41 299 M 50 001 M 50 001 M
P/E ratio 2020 11,5x
Yield 2020 10,2%
Capitalization 20 743 M 25 095 M 25 114 M
EV / Sales 2020 1,43x
EV / Sales 2021 1,43x
Nbr of Employees 113 392
Free-Float 89,8%
Chart TELEFONICA S.A.
Duration : Period :
Telefonica S.A. Technical Analysis Chart | TEF | ES0178430E18 | MarketScreener
Technical analysis trends TELEFONICA S.A.
Short TermMid-TermLong Term
TrendsBullishBullishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 31
Average target price 5,01 €
Last Close Price 3,75 €
Spread / Highest target 140%
Spread / Average Target 33,6%
Spread / Lowest Target -30,7%
EPS Revisions
Managers and Directors
NameTitle
José María Álvarez-Pallete López Executive Chairman & Chief Executive Officer
Ángel Vilá Vilá Boix Chief Operating Officer & Director
Laura Abasolo García de Baquedano Chief Financial & Control Officer
Alejandro Ramos Chief Information Security Officer
Isidro Fainé Casas Vice Chairman
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