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Telefónica Plans €745M Unit IPO

Telefónica is seeking to raise around €745 million in an initial public offering of its call-center unit.

Telefónica is seeking to raise around €745 million in an initial public offering (IPO) of its call-center unit, Bloomberg reports. The Spanish telecom company plans to list about a 51% stake in Atento Inversiones y Teleservicios.

The Madrid-based operator is offering 33.7 million Atento shares at €19.25-25 each. The offering is being managed by Citigroup and Goldman Sachs, while BBVA, BNP Paribas, JP Morgan and Santander are acting as joint bookrunners.

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