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France Telecom SA’s debt rating was cut for the first time in a decade by a rating company on concern that the country’s former phone monopoly will struggle to raise prices and boost profitability amid competition at home from discounter Iliad SA.
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Telefonica SA Chairman Cesar Alierta ’s unsolicited 5.7 billion-euro ($7.3 billion) bid for control of Vivo Participacoes SA highlights an urgent effort to fix the Spanish company’s operations in Brazil.
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Telefonica SA Chairman Cesar Alierta ’s unsolicited 5.7 billion-euro ($7.3 billion) bid for control of Vivo Participacoes SA highlights an urgent effort to fix the Spanish company’s operations in Brazil.
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Telefonica SA Chairman Cesar Alierta ’s unsolicited 5.7 billion-euro ($7.3 billion) bid for control of Vivo Participacoes SA highlights a desperate attempt to fix the Spanish company’s operations in Brazil.
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Telefonica SA, whose market value has slumped by $60 billion in 1 1/2 years, plans to sell shares in its German and Latin American phone units, raising cash to restore debt ratings threatened by Spain’s financial crisis.
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The vote on Telefonica SA ’s 6.5 billion-euro ($8 billion) offer for Portugal Telecom SGPS SA ’s stake in their Brazilian venture may be too close to call, turning on how a centuries-old antagonism plays out.
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Telefonica SA called its initial bid for Portugal Telecom SGPS SA ’s stake in Vivo Participacoes SA of Brazil “fair, full and final.” Chairman Cesar Alierta paid 1.8 billion euros ($2.3 billion) more to close the deal.
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Telefonica SA’s days of guaranteed earnings expansion in Latin America may be over, leaving Chief Executive Officer Cesar Alierta with few growth markets as he tries to sell a stake in the assets to repay debt.
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Dividend yields for European telephone companies may give investors a higher payout than benchmark bonds from Ireland and Portugal after a week-long decline in telecommunications shares.
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Portugal’s veto of Telefonica SA ’s bid for Portugal Telecom SGPS SA ’s stake in Brazil’s largest mobile-phone company may undermine investor confidence at a time when the nation’s risk premium is near a record high.