Telefonica plans to spin off real estate operations

Telefonica SAÂ's domestic unit, Telefonica de Espana, plans to spin off its real estate activities into a separate unit, offering property management and maintenance, according to a report in financial daily La Gaceta.

It is part of TelefonicaÂ's move to bring in more revenue by spinning off non-strategic divisions and floating them. The newspaper added that the company has already split its logistics and distribution division into a separate unit.

(source: Dow Jones Business News)

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