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Telefonica To Receive SEC Fine; Not A Spread Mover

COMMUNICATIONS


  • Not Likely To Be Material So Not A Spread Mover
  • Spanish-language paper El Confidencial reported this morning that Telefónica faces an SEC fine over ties with Chinese suppliers in Venezuela
  • The amount is under negotiation; author expects it to be record high for a Spanish firm.
  • Telefonica declined to comment but noted that any impact would be immaterial given the size of the group.

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