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Telefónica Prepares Possible Sale of Noncore Assets Worth $5.43 billion-$6.52 billion

The well-flagged move, first announced by Telefónica officials in November, would look to help the telecom company cut its debt pile, which currently stands at €49.7 billion—slightly above the company’s market value.

Telefónica is trying to complete the $14 billion sale of its O2 U.K. unit to rival CK Hutchison Holdings Ltd. 0001 -0.97 % , which is now being reviewed by the European Commission. The company is aiming to seal the deal in the second quarter, but analysts...


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