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Telefónica y las dos caras de la misma deuda

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Telefónica y las dos caras de la misma deuda
Logo de Telefónica en una cabina.

Logo de Telefónica en una cabina. Europa Press

Resumen:

La sombra de la deuda viene condicionando desde hace años el devenir de Telefónica. Con el estallido de la crisis, la operadora española se encontró acosada por una ingente cantidad de deuda que parecía agigantarse al tiempo que su volumen de negocio decrecía.

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","iv":"96cdf096158c7e8929447acb0e9f00b3","s":"f708aefb6ffe041c"}