October 9, 2018 / 3:18 PM / 10 days ago

Inflation to reduce Telefonica's Argentina 9-mth core profit by 215 mln eur

MADRID, Oct 9 (Reuters) - Rising prices in Argentina will reduce Telefonica’s core profit in the country by around 215 million euros ($246.65 million) in the year to September, according to a regulatory filing by the Spanish operator.

The company said that the changes in the accounting of operating income before depreciation and amortisation (OIBDA) will not impact its net financial debt.

The negative impact on net sales will be 625 million euros, Telefonica said. ($1 = 0.8717 euros) (Reporting by Carlos Ruano, writing by Andrés González editing by Isla Binnie)

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