Economics

Telefonica announces sale of Czech unit for 2.47 bn euros

Telefonica announces sale of Czech unit for 2.47 bn euros (via AFP)

Heavily indebted Spanish telecoms firm Telefonica said Tuesday it had agreed to sell a 65.9-percent stake in its Czech unit to Czech financial group PPF for 2.47 billion euros ($3.3 billion). Telefonica will retain a minority 4.9 percent share in Telefonica…