Telefónica, S.A. (CATS:TEF) is considering the sale of €700 million worth of Telefónica Ireland Limited. Liberty Global Inc. (NasdaqGS:LBTY.A), Hutchison 3G UK Holdings Ltd., a subsidiary of Hutchison Whampoa Ltd. (SEHK:13) and The Blackstone Group L.P. (NYSE:BX) are potential acquirers for Telefónica Ireland. Angel Vil, Chief Financial and Corporate Development Officer of Telefónica said on May 8, 2013, “We are managing our portfolio, aiming to increase the value of the businesses where we are present. We are not in an expansion mode, but yes, we can be in a strengthening mode in some the markets where we operate. Some of those markets could benefit from a market consolidation. And there are several examples, chief operating officer Jose Maria has spoken about one of them before. Ireland could be another one.” As per The Sunday Independent, a Telefonica spokesman said they did not comment on speculation. Mike T Fries, President of Liberty Global, said, “the company may look at mobile assets in Ireland.” According to sources, Telefónica’s advisors are Citigroup, Inc. (NYSE:C) and BNP Paribas SA (ENXTPA:BNP) and Merrill Lynch & Co., Inc.

Telefónica, S.A. (CATS:TEF) said that it will not sell Telefonica Telecom SA and was beginning talks with the shareholder Colombian government, to find ways to capitalize the business and increase liquidity. "In Colombia I want to stress that we are not sellers," Chief Financial Officer of Telefónica, S.A., Angel Vila said.

Telefónica, S.A. reported earnings results for the first quarter ended March 2013. The company's revenues in the first quarter of 2013 totalled EUR 14,141 million, an 8.8% year-on-year decrease reflecting mainly the negative impact of exchange rate fluctuations (-5.5 percentage points) following the devaluation in Venezuela effective from January 1, 2013. Changes in the perimeter of consolidation reduced growth by 1.8 percentage points. In organic terms, revenues declined by 1.6% year-on-year, as growth in Telefónica Latinoamérica could not offset lower revenues of Telefónica Europe, still affected by the macroeconomic situation, the intense level of competition and the negative impact of regulation. Excluding the negative effect of regulation (-1.5 percentage points), consolidated revenues declined 0.1% year-on-year. Operating income before depreciation and amortisation (OIBDA) reached EUR 4,567 million, virtually unchanged in organic terms (-0.1%) compared with the same period of 2012 (-10.1% reported). In the first three months of 2013, operating income (OI) totalled EUR 2,066 million, down 2.9% year-on-year organically (-17.7% in reported terms). As a result, consolidated net income up to March 2013 totalled EUR 902 million, up 20.6% year-on-year, while basic earnings per share increased 22.2% to EUR 0.20. CapEx in the first quarter of 2013 totalled EUR 1,941 million (+13.4% year-on-year) and included EUR 695 million relating to the acquisition of spectrum in the UK (EUR 671 million) and Uruguay (EUR 24 million). Consequently, operating cash flow rose 9.6% year-on-year in organic terms in the first quarter of 2013, continuing the growth trend registered in the previous quarter (+6.2% year-on-year). Net debt would stand at EUR 51,156 million, having been reduced by EUR 653 million after the close of the quarter, and the leverage ratio would stand at 2.41 times.