BRIEF-Spain's Telefonica changes exchange rate used in Venezuela, earnings to be hit

lunes 16 de febrero de 2015 12:59 GYT

MADRID Feb 16 (Reuters) - Spain's Telefonica :

* Says will use "SICAD II" exchange rate to consolidate operations in Venezuela

* Says full-year OIBDA to be hit by 915 million euros ($1 billion) , net result to be hit by 399 million euros

* Says net financial assets in Venezuela to be reduced by 1.23 billion euros

* Says net assets in Venezuela to be cut by 2.84 billion euros

* Says change does not affect Telefonica's commitment to keep investing in Venezuela Further company coverage: ($1 = 0.8787 euros) (Reporting By Julien Toyer; editing by Sarah Morris)