BRIEF-Telefonica expects completion of O2 sale in H1 2016
Feb 25 (Reuters) - Telefonica
* Says on conference call with analysts expects to complete sale of O2 in first half of 2016, pending regulatory approval
* Says no longer looking at hybrid debt instruments given O2 sale
* Says any potential further Venezuelan devaluation to have limited effect on results
* Says sees positive evolution of margins in Spain Further company coverage: (Reporting By Sonya Dowsett, Editing by Sarah White)
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