Latin America
More Latin American ADRs are on their way to help break the ice that still clogs the pipeline of US capital to the region. Telefonica del Peru will unveil its ADR in June, when the government sells its remaining 29 per cent stake in the company for some $1.4 bn.
JP Morgan and Merrill Lynch will manage the international sale, while Banco de Credito hopes to sell $250-$400 mn worth of Telefonica shares on the domestic market.
'Telefonica is a huge transaction by any standards,' says Matthew
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