MADRID Nov 8 Spanish telecom group Telefonica
posted a 9 percent drop in 9-month net profit on
Friday, slightly beating analysts' forecasts, hit by the
weakness of its home market and declining Latin American
Telefonica, which this week reached a deal to sell its Czech
unit, paid its first dividend in 18 months and opened the door
to raising its investment in Telecom Italia, said net
profit reached 3.145 billion euros ($4.2 billion) versus a
Reuters poll for 2.997 billion euros.
Revenues also fell 8.4 percent to 42.626 billion euros while
net debt stood at 46.101 billion euros at end-September, meeting
the company's year-end target of a debt below 47 billion euros
three months ahead of time.
($1 = 0.7472 euros)
(Reporting by Julien Toyer; Editing by Sonya Dowsett)