Telefonica SA is weighing the sale of a stake in its technology unit, people with knowledge of the matter said, ahead of a new strategic plan for the Spanish carrier.
The Madrid-based company has been meeting with investment funds to gauge their interest in acquiring a stake in Telefonica Tech, according to the people. Any deal could value the fast-growing unit at more than €2 billion ($2.10 billion), they said.
Deliberations are ongoing and there’s no certainty Telefonica will decide to proceed with a sale, the people said, asking not to be identified discussing confidential information. Although interest is in line with expectations, Telefonica is considering whether it should wait until the tech division has grown further before selling a stake, one of the people said. A representative for Telefonica declined to comment.
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