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Telefonica Quarterly Profit Slides After Venezuela Writedown

2015-02-25 12:25:19| Paper - Topix.net

Operating income fell 36 percent to 3.19 billion euros stripping out interest, depreciation and amortization, the Madrid-based carrier said Wednesday. Venezuela accounted for 915 million euros of the decline, as Telefonica cut the value of its assets there by 2.8 billion euros after switching to a lower exchange rate.

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