Telefonica is mulling the sale of a stake in its technology business, known as Telefonica Tech.
Bloomberg first reported the move, unnamed sources saying investment funds had been approached to assess their interest in buying a stake in the unit.
The talks are said to be ongoing, but there are no guarantees that the telco will go ahead with the divesture.
If the sale does progress it would put a value on the Madrid based company of over €2 billion.
Telefonica Tech works in cloud, data & AI, and cyber security.
Last month, Saudi Arabia’s stc Group acquired a 9.9% stake in Telefónica for €2.1 billion and is now the largest shareholder in the Spanish telco.
