Convergencia Research, Consultoría especializada en Latinoamérica y Caribe
Tuesday, April 23, 2019

Telefónica has demands for US$3.350 billion but it expects to have to pay only US$750 million

According to the information presented before the Bolsa de Valores de Lima (BVL) (Lima Stock Exchange), grupo Telefónica faces a variety of judicial, administrative or arbitration processes that cover demands of more than US$3.5 billion until the end of 2018. Of this total, the company has made provisions for a little more than US$750 million while it considers that it will be awarded the majority of the legal proceedings that have been filed against it. The legal advisors of Telefónica stated in the annual report of the operator that the total amount demanded is unlikely to occur and that 97 of the processes could be resolved on favorable terms and would not impact the financial results.

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