1056 GMT - Telefonica's potential dividend increase from 2025 could be compromised by the evolution of the Brazilian real, AlphaValue analyst Jean-Michel Salvador writes in a note. The currency negatively affected the Spanish telecommunication group in the third quarter, leading to a disappointing performance, he says. The Brazilian assets constitute 15% of Spanish telecommunication company's global assets. However, the group will likely meet its 2024-26 targets, which include slight growth and a significant reduction in capital expenditure from 2025, he says. Shares are down 1.7% at 4.21 euros. (najat.kantouar@wsj.com)
(END) Dow Jones Newswires
November 07, 2024 05:56 ET (10:56 GMT)
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