MADRID (Reuters) -Telefonica is considering making a takeover bid for Vodafone Spain, which was bought last year by London-based Zegona, news website El Confidencial reported on Tuesday, citing
Telefonica Weighs Takeover Bid for Vodafone Spain, Reports Say
Telefonica's Strategic Considerations
MADRID (Reuters) -Telefonica is considering making a takeover bid for Vodafone Spain, which was bought last year by London-based Zegona, news website El Confidencial reported on Tuesday, citing unidentified sources.
Spanish government fund SEPI, holding company CriteriaCaixa and Saudi telecoms company STC, which together own almost 30% of Telefonica, support the plan, El Confidencial said.
Telefonica, Vodafone Spain, CriteriaCaixa, STC and SEPI declined to comment.
Support from Major Stakeholders
Marc Murtra, who was appointed as Telefonica chief executive in January, plans to complete a strategic review of the company by the end of the year and has called for consolidation of the European telecoms sector.
New Strategy Under CEO Marc Murtra
Telefonica's new strategy will include a capital increase, the Vozpopuli website reported last week.
(Reporting by Inti Landauro and Jesus AguadoEditing by David Goodman)
