Summary
ATLANTA -- BellSouth Corp. agreed to sell its stake in 10 Latin American operations to a wireless unit of Spanish telecommunications giant Telefonica SA for about $4.2 billion in cash and an additional $1.5 billion in debt.
BellSouth said it expects to record a gain from the sale to Telefonica Moviles in 2004. The company said the deal improves its flexibility and allows it to focus on its domestic business.See the full content of this document
Extract
Bellsouth Sells Stakes to Telefonica
Proceeds from the sale also will help fund BellSouth's $16 billion share of last month's deal to acquire AT&...
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