Telefonica Q4 sales flat, OIBDA falls 88% on restructuring

(Telecompaper) Telefonica reported fourth-quarter revenues flat at EUR 11.881 billion, as negative currency effects offset growth from the acquisitions of GVT and DTS. OIBDA fell 88.1 percent to EUR 401 million due to restructuring charges. On an organic basis, Telefonica reported revenues down 2.0 percent in Spain, up 2.0 percent in Germany and 3.4 percent higher in Latin America. OIBDA was hut by a total EUR 3.122 billion in restructuring charges, including EUR 2.896 billion in Spain, as well