Telefonica treasury stock 1.87 pct July 1, up vs end-Jan

MADRID, July 2 Wed Jul 2, 2014 5:22am EDT

MADRID, July 2 (Reuters) - Spain's Telefonica's treasury stock stood at 1.87 percent on July 1, worth around 1.06 billion euros ($1.5 billion) at current market prices and up from 0.84 percent at end-January, stock market documents showed on Wednesday.

Telefonica has used its treasury stock in recent years either to raise funds to pay down debt, or as currency in corporate deals, for example in September last year when it bought bonds in holding company Telco in exchange for its own treasury stock.

Telefonica bought back stock between January 29 and June 30 at prices between 10.9 euros and 12.58 euros per share, stock market documents showed. ($1 = 0.7331 Euros) (Reporting By Andres Gonzalez, Writing by Sonya Dowsett,)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.