Telefónica Struggles OnJuly 2012 | Company News Alert
Telefónica released its Q212 results a day early, along with announcing the suspension of dividend payments and share buybacks until the end of 2012. While results were disappointing, BMI believes the company is taking the correct measures to manage its EUR58bn debt burden. However, while Latin America provides some respite, the worsening outlook in domestic market Spain will continue to weigh heavily on the company's performance through 2012 and beyond, BMI believes.
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