Monday, 10 December 2018

Telefonica in €2.84bn Venezuela writedown

By Nick Wood, Total Telecom
Tuesday 17 February 15

Spanish incumbent switches to lower bolivar exchange rate, resulting in lower operating, net profit from local unit.

Telefonica will record a €2.84 billion writedown on the value of its operations in Venezuela for 2014, after the company switched to a different exchange rate to reflect the country's weakening currency…

Telefonica will record a €2.84 billion writedown on the value of its operations in Venezuela for 2014, after the company switched to a different exchange rate to reflect the country's weakening currency…

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