Telefonica SA $TEF, the Spanish telecommunications giant, has tasked Citigroup $C with managing the sale of its Chilean subsidiary, Telefonica Chile SA. This move follows the company's ongoing efforts to divest several other subsidiaries in Latin America as part of a strategy to optimize its business and improve its financial standing.

Italian auto parts manufacturer CLN-Coils Lamiere Nastri SpA is in the spotlight following recent reports about its negotiations with Stellantis NV. Amid a challenging financial landscape, CLN is taking steps to reduce its debt and improve its financial standing. This situation may have significant repercussions for both the company’s assets and Stellantis' stock.