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Spain: Telefonica’s E-Plus buyout no threat to debt targets

By  |  July 26, 2013

Even with Spain telecommunications giant Telefonica’s planned buyout of Germany-based E-Plus, Telefonica reported it is on track to meet full-year debt targets following the news the company had cut borrowings to less than $66 billion in the first half. Telefonica announced last week plans to buy the unit of Netherlands-based KPN; the company also agreed last month to divest its Ireland unit to rival Hutchinson. Reports say the twin deals will likely place the company at odds with the European Commission.

Full Content: Reuters

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