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Telefonica eyeing options to exit Germany - Wirtschaftswoche

Reuters

FRANKFURT (Reuters) - Spain's Telefonica is considering selling its Telefonica Deutschland unit, business magazine Wirtschaftswoche reported on Thursday.

The report cited unnamed sources as saying there were "first considerations and scenarios" regarding the German business but that no mandates for investment bankers to advise on a deal had been awarded.

Telefonica and its German unit, which ranks third in the market behind Deutsche Telekom and Vodafone, both declined to comment.

Vodafone is holding talks with U.S. company Liberty Global on a European tie-up that would expand Vodafone's cable and broadband throughout Germany.

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That could marginalise Telefonica Deutschland, which has pursued a mobile-first strategy.

Telefonica owns just under two-thirds of Telefonica Deutschland, which operates under the O2 brand in Germany. It is also planning to list its British unit, which sources close to the matter say is the greater priority now.

(Reporting by Douglas Busvine; editing by Jason Neely)