BBVA: to book impairment loss on Telefonica stake
(CercleFinance.com) - BBVA plans to book an impairment loss of around 1.
1 billion euros on its 5% stake in Spanish telecoms giant Telefonica, the bank said on Wednesday.
BBVA will book the charge in its 2017 results, with Telefonica shares falling by 8% last year, the financial group said in a regulatory filing.
Shares of Telefonica were down a further 0.3% on Wednesday, while BBVA shares were up 0.1%.
BBVA is scheduled to unveil its full-year results on 1 February.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
1 billion euros on its 5% stake in Spanish telecoms giant Telefonica, the bank said on Wednesday.
BBVA will book the charge in its 2017 results, with Telefonica shares falling by 8% last year, the financial group said in a regulatory filing.
Shares of Telefonica were down a further 0.3% on Wednesday, while BBVA shares were up 0.1%.
BBVA is scheduled to unveil its full-year results on 1 February.
Copyright (c) 2018 CercleFinance.com. All rights reserved.