Market Chatter: Telefonica Plans to Focus on EU, NATO Defense Contracts

MT Newswires Live

Jul 30

Telefonica (TEF) may expand its defense business outside Spain with a focus on securing EU and NATO contracts as military spending climbs, Bloomberg reported Wednesday, citing an interview with Executive Chairman Marc Murtra.

Telefonica can offer capabilities to "allied countries, whether within the European Union, within NATO or beyond," Murtra said, according to the report. "We believe there will be European coordination to ensure there is no duplication of capabilities among allies."

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 5.24, Change: -0.04, Percent Change: -0.85

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