Telefonica CFO sees potential in Mexican IPO

MADRID: Telefonica SA may consider an initial public offering of its Mexican unit in a move that could let Spain’s largest phone company raise funds for the business while keeping control.

“It’s a business that could potentially be attractive for an IPO,” chief financial officer Angel Vila said on Wednesday at a Morgan Stanley investor conference in Barcelona. “It’s a very good opportunity. After sitting in the country for so many years, now that it is making money, it would be strange” to have an outright sale of the unit, Vila said.