Telefonica has approached Vodafone on Spanish broadband deal - Bloomberg News
Reuters
Published Jul 28, 2023 08:24AM ET
(Reuters) - Telefonica (NYSE:TEF) has approached British telecoms group Vodafone (NASDAQ:VOD) about a potential deal involving internet broadband networks in Spain, the Spanish company's chief operating officer told Bloomberg News on Friday.
Telefonica had presented a number of proposals to Vodafone in talks in recent months, Angel Vila told Bloomberg in an interview. "The ball is now in their court," he said.
A spokesperson for Vodafone declined to comment. A spokesperson for Telefonica confirmed Vila's comments.
Vodafone's new chief executive Margherita Della Valle launched a strategic review of the company's Spanish operation in May, saying a full or partial sale of the business was an option.
Telefonica said the same month it was open to discuss a potential fibre network partnership in Spain with Vodafone.
Vodafone has reportedly sought to unwind assets in Spain, where it has suffered cut-throat competition. But given its size in the country, a sale to rivals would face steep anti-trust hurdles.
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Written By: Reuters
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