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MarketScreener Homepage  >  Equities  >  Bolsa de Madrid  >  Telefonica    TEF   ES0178430E18

TELEFONICA

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Telefonica : Movistar raided in Costa Rican tax probe

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01/11/2019 | 07:14am EDT

Costa Rica’s Justice Department has raided the offices of Telefonica de Costa Rica (Movistar) and its subsidiary Tejisa, Reuters reports, as part of an investigation into alleged tax fraud. Local law firm Zurcher Odio & Raven and accountancy giant KPMG have also come under scrutiny, local sources have clarified. The Prosecutor’s Office for Financial Crimes said it obtained a court order to raid the businesses in question, citing possible ‘fraudulent moves’; Telefonica is accused of using Tejisa to pay less tax. The news agency’s report points to lost taxes of CRC1.25 billion (USD2 million) during 2017. *According to TeleGeography’s GlobalComms Database, Spanish telecoms giant Telefonica paid USD95 million for its Costa Rican mobile concession in mid-2011 and went on to launch commercial services in November that year. Telefonica is currently understood to be considering exiting Costa Rica – and its other Central American markets – as it seeks to raise funds and reduce its debt pile.

(c) 2002-2019 PriMetrica, Inc. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials (€)
Sales 2019 48 778 M
EBIT 2019 7 121 M
Net income 2019 3 733 M
Debt 2019 43 596 M
Yield 2019 5,16%
P/E ratio 2019 10,96
P/E ratio 2020 10,37
EV / Sales 2019 1,73x
EV / Sales 2020 1,69x
Capitalization 40 670 M
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Mean consensus OUTPERFORM
Number of Analysts 33
Average target price 8,83 €
Spread / Average Target 13%
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Managers
NameTitle
José María Álvarez-Pallete López Executive Chairman & Chief Executive Officer
Ángel Vilá Boix Chief Operating Officer & Director
Laura Abasolo García de Baquedano Chief Financial & Control Officer
Alejandro Ramos Chief Information Security Officer
Isidro Fainé Casas Vice Chairman
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