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An update from Telefonica ( (ES:TEF) ) is now available.
Telefónica del Perú has entered an Ordinary Insolvency Procedure to restructure its financial liabilities, as approved by its Board of Directors. This move is part of a broader strategy to manage the company’s challenging financial situation, exacerbated by long-standing tax contingencies and competitive disadvantages. Telefónica Hispanoamérica has extended a commercial credit to support operational needs, and Telefónica continues to seek strategic alternatives for its investment in the Peruvian subsidiary.
More about Telefonica
Telefónica is a major player in the telecommunications industry, offering a range of services including mobile and fixed-line telephony, broadband, and digital solutions. The company operates primarily in Europe and Latin America, focusing on providing innovative and reliable communication services to its customers.
YTD Price Performance: 8.06%
Average Trading Volume: 2,038,103
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: €23.73B
See more insights into TEF stock on TipRanks’ Stock Analysis page.