Telefonica to Get $5.5B Dividend Before German IPO

Telefonica to Get $5.5B Dividend Before German IPO Play

Telefonica SA, the Spanish phone company battling with growing debt and a potential rating cut, received a dividend of 4.3 billion euros ($5.5 billion) from its German business weeks before kicking off the unit’s initial public offering, according to documents seen by Bloomberg News.

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