Telefónica Outlines Strategy to Consolidate European Telecoms, Divest Latin American Assets

Telefónica (NYSE:TEF) is one of the most undervalued telecom stocks to invest in. On September 8, Telefonica CEO Marc Murtra outlined his vision for a consolidated European telecoms market, stating that the company is looking to acquire telecom assets in Europe and Brazil while selling off its Spanish-speaking Latin American assets. The strategy is part of a broader plan to increase scale and maintain the company’s investment-grade credit rating. Murtra argues that Europe’s telecom market is too fragmente ...