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Telefonica – Part 2

Company profile, investment opportunity and asset management integration:

Metric Rating
Operational risks: Average
Expected growth: Below average
Long term value creation: Excellent
Positive competitive advantage: Below average
Management excellence: Average
Financial strength: Below average
Investment orientation: Group “Best-in-Class”
Emerging Market Exposure, Telecom


Price ranges:

Buy: Only for customers
Sell Only for customers
Stop-loss: Only for customers
Fair-value: Only for customers