The U.S. government continues to investigate Spain-based companies like Telefonica (NYSE: TEF) that do business in Cuba, a country that officials call a "state sponsor of terrorism."
Last November, the Securities and Exchange Commission sent a letter to Cesar Alierta warning him about his company's Cuban affiliate, Telefonica Data Cuba. Telefonica told the SEC that it already sold off its stake in Data Cuba in 2005, adding that it does not plan to make any new investments in Cuba.
The service provider said in the confidential letter that it also asked the Cuban government about a possible sale of state-run Etecsa, but neither party ever reached an agreement.
For more:
- El Pais has this article
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