Why Telefonica Stock Gained 11.1% Last Month
Shares of Telefonica (NYSE: TEF) climbed 11.1% in September, according to data from S&P Global Market Intelligence. The stock gained ground amid broader momentum for the broader market, and it may have also benefited from news surrounding some of its business initiatives.
The Spanish telecommunications company published a press release on Sept. 10 announcing that it had plans to accelerate monetization of its mobile-telecommunications infrastructure. It followed this news with an announcement on Sept. 20 that it had partnered with Atresmedia to form a production company that would create Spanish-language entertainment.
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