Latest news with #Murtra
Time of India
30-07-2025
- Business
- Time of India
Telefonica books $59 million net loss in second quarter on currency swings
MADRID: Spanish telecom giant Telefonica booked a net loss of 51 million euros ($58.93 million) in the second quarter due to currency swings and capital impairments on assets sold in Latin America. The company's net loss during the quarter compared with a 417 million euro net profit in the same period a year ago. Its overall revenue in the quarter fell 3.7% to 8.95 billion euros, it said, mainly because of the depreciation of the Brazilian real against the euro. "The results of the quarter are in line with internal expectations," Chief Executive Marc Murtra said in a statement, adding he maintained the company's targets and dividend payouts for the year. "We keep showing a solid behaviour, which demonstrates resilience and consistency despite different dynamics in the markets we operate in amid an uncertain economic context," Murtra added. Analysts expected a net profit of 104 million euros and overall revenues of 8.92 billion euros, according to a company-provided consensus. The company booked a 206 million euro impairment on the value of its units it sold in Latin America. Telefonica sold its units in Argentina and Peru earlier this year for $1.25 billion and 900,000 euros, respectively. It had already booked accounting losses on these two sales worth 1.7 billion euros last quarter and it had already written 314 million euros off the value of its Peruvian unit in the third quarter of 2024. The company has also exited from Colombia. Murtra has said he wanted to reduce the company's exposure to Spanish-speaking Latin America and focus the company on its four main markets - Brazil, Britain, Germany and Spain.
Yahoo
30-07-2025
- Business
- Yahoo
Telefonica books $59 million net loss in second quarter on currency swings
MADRID (Reuters) -Spanish telecom giant Telefonica booked a net loss of 51 million euros ($58.93 million) in the second quarter due to currency swings and capital impairments on assets sold in Latin America. The company's net loss during the quarter compared with a 417 million euro net profit in the same period a year ago. Its overall revenue in the quarter fell 3.7% to 8.95 billion euros, it said, mainly because of the depreciation of the Brazilian real against the euro. "The results of the quarter are in line with internal expectations," Chief Executive Marc Murtra said in a statement, adding he maintained the company's targets and dividend payouts for the year. "We keep showing a solid behaviour, which demonstrates resilience and consistency despite different dynamics in the markets we operate in amid an uncertain economic context," Murtra added. Analysts expected a net profit of 104 million euros and overall revenues of 8.92 billion euros, according to a company-provided consensus. The company booked a 206 million euro impairment on the value of its units it sold in Latin America. Telefonica sold its units in Argentina and Peru earlier this year for $1.25 billion and 900,000 euros, respectively. It had already booked accounting losses on these two sales worth 1.7 billion euros last quarter and it had already written 314 million euros off the value of its Peruvian unit in the third quarter of 2024. The company has also exited from Colombia. Murtra has said he wanted to reduce the company's exposure to Spanish-speaking Latin America and focus the company on its four main markets - Brazil, Britain, Germany and Spain. ($1 = 0.8654 euros)
The Star
25-07-2025
- Business
- The Star
Telefonica in exclusive talks to sell its Mexican unit to Beyond ONE, sources say
FILE PHOTO: The logo of Spanish telecom company Telefonica is displayed at its headquarters in Barcelona, Spain May 3, 2025. REUTERS/Nacho Doce/File photo LONDON (Reuters) -Spanish telecom giant Telefonica is in exclusive talks to sell its Mexican business to Beyond ONE, the owner of Virgin Mobile Mexico, three sources with knowledge of the negotiations said. TheSpanish company has accelerated plans to reduce its exposure in Spanish-speaking Latin America, where profitability is lower than the cost of capital, and to focus instead on four main markets undernew CEOMarc Murtra. Telefonica declined to comment. Dubai-based digital services provider Beyond ONE did not immediately respond to requests for comment. The sources said that a deal was not certainand askednot to be identified because the matter is confidential. The Mexican business could be worth 520 million euros ($609.28 million), according to a research note published by Kepler Chevreux in June. Beyond ONE acquired Virgin Mobile Latin America, a mobile virtual network operator (MVNO) with clients in Mexico and Colombia, in 2023 for an undisclosed amount. One of the sources said the creation of a new antitrust commission - proposed by Mexico - could delay any telecoms deal because it will createuncertainty about getting regulatory proposed body would have power over telecoms companies. Telefonica has said it want to focus on the four core markets of Brazil, Britain, Germany and Spain, with Murtra planning to unveil a new strategy for the company in the second half of this year. It agreed to sell its Argentina unit to Telecom Argentinafor $1.245 billion in February, and is working with advisors for a sale of its business in Chile and Ecuador. It also reached an agreement in May to sell its Uruguay business for $440 million to Luxembourg-based Millicom International. ($1 = 0.8535 euros) (Reporting by Andres Gonzalez and Amy-Jo Crowley; Additional reporting by Federico Maccioni in Dubai; Editing by Tommy Reggiori Wilkes and Rachna Uppal)
Yahoo
16-06-2025
- Business
- Yahoo
Factbox-Spain's Telefonica reshapes Latin America strategy after leadership change
(Reuters) -Spanish telecom giant Telefonica has accelerated plans to reduce its exposure in Spanish-speaking Latin America, where profitability is lower than capital cost, to focus instead on four main markets under new CEO Marc Murtra. Following both an ownership and a management shake-up in the last year, Telefonica has withdrawn from many countries in southern America, building on a process that began with the sale of some Central America units in 2019. Telefonica's market focus will now be on the four core businesses of Brazil, Britain, Germany and Spain, and Murtra plans to introduce a new strategy for the company in the second half of this year. Below is a list of developments within the Group's Latin America operations: MEXICO Telefonica has hired investment bank JP Morgan to sell its Mexican business, newspaper Cinco Dias reported in February, citing unidentified financial sources. Asked about the process during an earnings call in February, Murtra said he would not comment on deals until they were signed. ARGENTINA Telefonica said it was selling its unit in Argentina to Telecom Argentina for $1.245 billion. In March, Argentina's presidential office suspended the acquisition on anti-trust concerns. PERU Telefonica agreed to sell its Peruvian unit in April to Argentina's Integra Tec International for about 900,000 euros ($1.04 million). Its Peruvian unit had filed for bankruptcy protection in February. Telefonica booked 1.7 billion euros in capital losses in the first quarter on the sale of its units in Peru and Argentina. VENEZUELA Telefonica has not announced any plans for selling the unit. In February, Jose Luis Rodriguez, the local head of mobile phone unit Movistar said it planned to invest $500 million in the country over two years to expand 4G and 5G services. COLOMBIA Telefonica agreed in March to sell its majority stake in the Colombian unit for $400 million to New York-listed Millicom International, which operates telecom companies across Latin America under the brand Tigo. URUGUAY Telefonica has agreed to sell its Uruguayan unit for $440 million to Millicom. ECUADOR Telefonica has agreed with Millicom to sell its unit in Ecuador for $380 million. CHILE Telefonica has hired Citi as an adviser to sell its Chilean business, news website El Confidencial reported on May, citing unidentified market sources. Telefonica declined to comment. EL SALVADOR Telefonica sold its mobile phone unit in El Salvador in 2021 to General International Telecom in a deal valued at $144 million. PANAMA Telefonica sold its Panama unit in 2019 to Millicom for 536 million euros. COSTA RICA Telefonica sold its Costa Rica unit in 2020 to Liberty Latin America, in a $538 million transaction. NICARAGUA Telefonica's mobile telecom assets in Nicaragua were sold to Millicom in 2019 acquired for $437 million. GUATEMALA Telefonica sold its operations in Guatemala to rival America Movil for 293 million euros in 2019. BRAZIL Telefonica's Sao Paulo-listed unit Telefonica Brasil is part of its four "core businesses". The subsidiary carried out several small acquisitions, such as cloud services firms IPNET and IPNET USA, for up to 230 million reais ($41.49 million) last July. ($1 = 0.8639 euros) ($1 = 5.5437 reais) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
06-06-2025
- Business
- Yahoo
Spain's $5B Telecom Breakup? Telefonica and Masorange Plot Bold Move on Vodafone
Telefonica (NYSE:TEF) and Masorange have kicked off informal discussions about a potential deal for Vodafone Spain, according to people familiar with the matter. While nothing is on paper yet, insiders say one idea being explored involves splitting up Vodafone Spain's fixed-line and mobile or enterprise operationspossibly to dodge antitrust objections. Masorange could also take over the Lowi brand, Vodafone's low-cost unit. The backdrop? Pressure is mounting in Spain's crowded telecom market, and consolidation is starting to look like the only way out. Warning! GuruFocus has detected 9 Warning Signs with TEF. Masorange, formed in 2024 from the 18.6 billion merger between Masmovil and Orange's local business, is now the country's biggest operator by customer base. Vodafone Spain, meanwhile, was acquired by Zegona for 5 billion last year but has continued to strugglepartly due to an aging fiber-optic network. It's already working with Masorange on a fiber venture, but a broader breakup-and-buyout could redraw Spain's telecom map. Telefonica still dominates business services, but Chairman Marc Murtra has made it clear: Europe's telecom players need to bulk up or risk getting left behind. But even if the strategic logic lines up, execution won't be easy. Telefonica's credit rating is hanging at the edge of investment-grade, leaving little room for risky moves. Murtra has said he won't jeopardize that rating, though some sources say creative funding structures might still be possible. A throwback to the 2020 Brazil playbookwhere Telefonica and two rivals jointly carved up Oi SAcould help navigate regulatory obstacles. For now, there's no formal proposal, but if talks progress, this could become one of the boldest moves in European telecom in years. This article first appeared on GuruFocus. Sign in to access your portfolio
