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Telefonica SA closes sale of 65.9 pct stake in Telefonica Czech Republic as to PPF Group

Tuesday, 28 Jan 2014 11:37am EST 

Telefonica SA:Says that, as a continuation of a press release dated Nov. 5, 2013, it has closed the sale of a 65.9 percent stake in Telefonica Czech Republic as to PPF Group.Says Telefonica will hold a 4.9 percent stake in Telefonica Czech Republic.Says, additionally Telefonica will remain as an industrial and commercial partner for Telefonica Czech Republic for four years.Says this transaction is part of Telefonica's strategy to focus on its core markets and optimize its financial flexibility. 

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