Is Telefonica’s dividend in jeopardy? “No, but it should be reduced”

“From a strategic perspective it has no sense that a company with such high debt ratios as Telefonica, continues to be so generous with its dividendo”, says Rafael Ojeda, macro analyst at Fortage Investment Funds, who considers the dividend of the IBEX 35’s Telecom is not in jeopardy after the approval of the new strategic plan.