Market Chatter: Telefonica's Argentina Unit Draws Acquisition Interest

MT Newswires Live

01-24

Telefonica (TEF) is drawing takeover interest in its Argentina unit, Bloomberg News reported Friday, citing people familiar with the matter.

The company has received preliminary interest from both Argentine and international investors in recent months.

However, Telefonica has not yet decided how to respond and is unlikely to move forward with any major strategic decisions until its new executive chairman completes a strategy review, according to the report.

The mobile carrier recently appointed Marc Murtra as executive chairman, following the removal of longtime chairman and CEO Jose Maria-Alvarez Pallete, the report added

Telefonica didn't immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 3.91, Change: +0.02, Percent Change: +0.51

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