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General

Telefonica abandons EUR 1.5 bln Telxius IPO on weak demand

Friday 30 September 2016 | 08:25 CET | News
Telefonica has cancelled its planned initial public offering of infrastructure unit Telxius, citing weak investor demand. The company "has decided to abandon the offering because it regards the valuation of Telxius implicit in the purchase orders as inadequate," said Telefonica in a statement submitted to stock market regulator CNMV, adding that it would "continue analysing strategic alternatives in connection with the asset." A source close to the operator cited by the Financial Times said the valuation process had been affected by the "market situation" as well as by "lesser knowledge"

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Categories: General
Companies: O2 UK / Telefonica / Telefonica Brasil / Telefonica Deutschland / Telxius
Countries: World
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