By Christiana Sciaudone & Marie Mawad 05/12/2012
Telefonica SA (TEF) is seeking to raise as much as 6 billion euros ($7.9 billion) by listing shares of its Latin America business in Madrid and London as Spain’s biggest phone company moves to pare debt.
The initial public offering, which would include all of Telefonica’s operations in the region, will take place as soon as possible, said Gilmar Camurra, chief financial officer of the Madrid-based company’s Brazil division.