The Spanish telecom provider Telefónica has reportedly received an offer from a group of investors for a 51 percent stake in the Latin American operations of the company excluding Brazil. According to the Spanish newspaper El Mundo, it would be a bid of 10 billion euros.
The consortium would consist of a group of businessmen who are each active in the eight countries concerned. The remaining shareholding would be divided between Telefónica and smaller shareholders.
Telefónica says El Mundo is unaware of the offer. Earlier there were reports that the Spanish telecom group had hired Morgan Stanley to investigate the possibilities of South American assets.