Seven months after abandoning its alliance with Unisource, Telefonica has agreed to sell its stake in the European telecomms alliance.
In April, Telefonica signed a 50:50 joint venture with BT's Concert alliance to tackle the Latin American market. This meant Telefonica had to resign from Unisource, the European group of PTT Nederlands, Telia, and Swiss PTT.
The Unisource owners will each buy one third of Telefonica's 25 per cent stake. In return, Telefonica will buy Unisource's Spanish data transmission company, Unisource Espana - which Telefonica will rename Telefonica Transmission de Datos - and Unisource Satellite Services Spain.
Unisource will maintain its presence in Spain through a wholly-owned subsidiary which will also be called Unisource Espana.
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