Spain's Telefonica sticks to 2016 targets despite Brexit

MADRID, June 24 (Reuters) - Spain’s telecoms group Telefonica on Friday said it was sticking to its 2016 targets despite the decision from Britain to leave the European Union, which could potentially hit its business in the country and the group’s balance sheet.

“Telefonica maintains its objectives,” the company said in an email to Reuters. “The sterling is holding well and we had currency coverage in place so from a balance sheet point of view, Telefonica is protected.”

The firm, which is considering a partial or total sale of its telecoms masts unit Telxius and British business O2, said it was in no rush to make a decision on any of them.

“We want to extract value from Telxius but no decision has been made, no internal or external schedule has been set and there has been no decision from the board,” it said. “On O2, we are under no pressure to make a decision.” (Reporting by Julien Toyer; Editing by Paul Day)