Telefonica to list Argentine unit on Buenos Aires Stock Exchange

3 Apr 2018

Spanish telecoms giant Telefonica has commenced the process to list its Argentine subsidiary on the Buenos Aires Stock Exchange (Bolsa de Comercio de Buenos Aires, BCBA), Reuters reports. As per a recent filing to the National Securities Commission, Telefonica has called a shareholder meeting on 16 April to approve the listing. Telefonica de Argentina (TdA) is valued at around EUR4.7 billion (USD5.8 billion), including debt, the report notes. The listing is aimed at raising funds to extend the telco’s fibre-optic network and cut debt, the news agency adds.