In Short: Telefonica sees no reason to buy back mobile unit

Spain's Telefonica said on November 18 that it saw no reason to repurchase 100 percent of the share capital of mobile unit Telefonica Moviles.
Chief Financial Officer Santiago Fernandez Valbuena said at a conference in Barcelona that although other operators in Europe had bought back mobile assets, Telefonica did not plan to do so.
"Others have done it in Europe for various reasons, but none of those reasons apply to us," he said.
Telefonica owns 92.45 percent of the mobile phone operator, which accounts for around half of the group's revenues.