December 4, 2012 / 5:36 PM / 5 years ago

STXNEWS LATAM-Telefonica Brasil sees "no effect" if Latam unit listed

Shareholders of Telefonica Brasil, the country’s largest wireless company, would not be affected in any way by a decision by Spanish parent company Telefonica to list its Latin American holding company, the local unit’s Chief Financial Officer Gilmar Camurra said on Tuesday.

Telefonica is considering listing up to 15 percent of its Latin American arm, which could raise funds that would help cut debt and safeguard its credit rating.

The regional holding company is moving about 100 employees to offices in Sao Paulo but remains registered in Madrid, Camurra said.

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