Telefonica cuts Fonditel stake

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SPAIN - Telefonica, the telecoms giant, has sold 11% of its pension fund manager, Fonditel, to two trade unions, reported Spanish newspaper, Expansion.

The CCOO and UGT unions have both acquired a 5.5% stake for e5m. They already hold 9.5% each. The deal means that Telefonica has cut its slice in Fonditel to 70%. But CCOO representative, Car...

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