The move follows a successful IPO of Telefónica’s German unit last month and will help the Spanish carrier cut its debt.
Local newspaper Expansion reports that Telefónica would look to float a minority stake in the holding company in the second half of next year should it need to raise cash, citing unnamed sources.
A Latam listing was presented as an option when Telefónica reported its nine month results earlier this month but a company spokesman told Reuters that the Latin American IPO process was ongoing and no decision had been taken.
Telefónica is planning to cut its €56 billion debt at the end of September to €50 billion by the end of 2012 through the scrapping of dividend and the sale of assets.
The carrier’s Latam business now generates more revenue than its European one with the region expected to register 3.2% economic growth this year in contrast to a 1.5% decline in Spain.
