Telefónica Deutschland Reportedly Questioned Over Cash Pooling Arrangements

Telecommunications group Telefónica's (TEF.MC) German unit faced questions from minority shareholders over its cash pooling arrangements, Bloomberg News reported Friday, citing people familiar with the matter. Telefónica Deutschland Holding was said to have pooled 221 million euros, or 95% of its year-end cash balance, with its Spain-based company, the report added. Telefonica did not immediately respond to a request for comment.