Investors need to pay close attention to Telefonica (VIV) stock based on the movements in the options market lately.
Telefonica has admitted Allianz Global Investors and Canadian pension fund CDPQ to the final stages of an auction for a slice of its rural fiber network in Spain, which serves about three million homes in smaller villages, three sources close to the matter told Reuters. Dutch pension fund PGGM may team up with Allianz as part of a consortium, another source said, while Vauban could also seek a bidding partner. Telefonica, Allianz, CDPQ and PGGM declined to comment.
Telefonica's (TEF) first-quarter results suffer from rising inflation.