Report

Telefonica : A combination that makes sense but many challenges in an adverse environment. Target price of € 5, Neutral vs Buy

>Promising negotiations with Liberty Global in the UK - Telefonica has confirmed that it has entered into negotiations with Liberty Global with a view to combining their two assets in the UK. Telefonica, which had attempted a merger with Three UK that was aborted because of remedies deemed too important and then considered a stock market listing disrupted by Brexit, is logically attempting a merger with Virgin Media. Whilst convergence is getting underway in the UK, t...
Underlying
Telefonica SA

Telefonica is engaged in the provision of public or private telecommunications services, including ancillary or complementary telecommunications services or related services. Co.'s fixed business includes: traditional fixed telecommunication services, Internet and broadband multimedia services, data and business-aplications services, and wholesale services for telecommunication operators. Co. also provides a range of mobile and related services and products to consumer and business customers, including mobile voice services, value added services, mobile data and Internet services, wholesale services, corporate services, roaming, fixed wireless, and, trunking and paging.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

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