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News Breaks | | | | October 11, 2012 | | 06:36 EDT |  | TEF | Telefonica got $5.5B dividend from German business before IPO, Bloomberg says
Debt ridden Telefonica SA (TEF), facing a potential rating cut, received a dividend of EUR4.3B from its German business weeks before beginning the unit’s IPO, according to documents seen by Bloomberg News. The cash dividend was paid to Telefonica on September 14. Telefonica then canceled a “capital promise” of EUR2.9B to Telefonica Deutschland Holding AG, which will have net debt of EUR1.2B at the end of this year, according to the documents. Reference Link | |
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News For TEF From The Last 14 Days Check below for free stories on TEF the last two weeks. |
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| May 7, 2013 | | 06:12 EDT | | TEF | Telefonica may attempt to sell its iconic Madrid headquarters, Bloomberg reports
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