Fonditel to undertake review

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SPAIN - Fonditel, the pension fund manager for Spanish telecoms giant Telefónica, is reviewing ways it can reposition the firm in order to boost returns going forward.

Spokesman Alberto Martinez said: "2008 was a bad year and the fund is studying ways to remain on top." In 2008, the fund lost 26.86%, according to local media reports. Fonditel runs €3.1bn (US$4...

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