BME:TEFTelecom
Is Telefónica (BME:TEF) Refocusing Its Capital Market Strategy With The NYSE Delisting Move?
Telefónica has already moved to voluntarily delist its American Depositary Shares from the New York Stock Exchange, shifting them to a Level 1 over-the-counter program while also relocating several series of its fixed rate senior notes from the NYSE to Euronext Dublin.
This U.S. delisting step, combined with AM Best reaffirming an Excellent rating for Telefónica’s captive insurer Nova Casiopea Re, highlights a sharpened focus on cost-efficient risk management and a more concentrated presence...