July 30, 2020 / 9:56 AM / 4 days ago

Telefonica will carve out and sell Chilean fibre assets

MADRID (Reuters) - Spain’s Telefonica (TEF.MC) is working on carving out some fibre assets in Chile and aims to sell a majority stake in that vehicle as part of a drive to reduce its financial exposure in the region, its Chief Financial and Control Officer said on Thursday.

“It is a way to monetise but also and more importantly accelerate the transformational deployment plan in Chile,” Laura Abasolo said on a conference call, adding “more projects of this kind could come in the rest of the Hispano-American region.”

Reporting by Isla Binnie, Editing by Inti Landauro

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