Telefonica looks to sell logistics unit Zeleris amid COVID-era boom

MADRID: Spanish telecoms group Telefonica is seeking buyers for its logistics and express-delivery unit Zeleris, a source familiar with the offer said on Monday, amid a months-long boom in the business as COVID-19 pushes people to shop online.

The mobile and broadband provider has entrusted the sale of Zeleris, which operates around the world and employs 1,200 people, to consultancy firm Ernst & Young, which valued the asset at up to 100 million euros ($121 million), said the source, who is familiar with the logistics sector.

A spokesman for Telefonica declined to comment. Ernst & Young was not immediately available for comment.