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Central Europe: Telefonica sells off Czech, Slovakian units

 |  November 5, 2013

Spain’s telecommunications giant Telefonica has inked a deal to sell major assets in Central Europe as part of efforts to reduce debts, selling $3.9 billion worth of operations.

Reports say the telco has sold Telefonica Czech Republic, in which Telefonica owned 65.9 percent, as well as the entirety of its operations within Slovakia.

Netherlands-based financial group PFF will acquire the assets and thereby attain the rights to use the O2 brand in the region; O2 is run by Telefonica Czech Republic.

Funds acquired from the sale will be put towards Telefonica’s debts, say reports, and will add to the funds raised through sales the company made within Ireland three years ago.

Full content: ZDNet

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