Telefonica preparing sale of Spanish towers unit - report

Nieuws Algemeen Spanje 12 JAN 2016
Telefonica preparing sale of Spanish towers unit - report

Telefonica is preparing to spin-off its domestic infrastructure unit for sale by mid-2016, according to an unnamed source cited by Reuters. The company is pursuing a so-called 'dual track' process that will seek to list or make a trade sale of the unit to be made up of Telefonica's 11,500 masts in Spain as well as data centres and domestic subsea cables. "The process has started, the new unit will be formally registered very shortly and Telefonica wants to move quickly on those plans," said the source, adding that the unit could be valued at EUR 5-6 billion.

Telefonica has yet to confirm the news but in November it announced a review of its infrastructure portfolio in a bid to extract more value and bring down its EUR 50 billion debt. The company owns around 60,000 masts in Spain and, according to the source, hasn’t ruled out adding masts owned by subsidiaries in countries such as Brazil and Germany to build an international telecoms infrastructure unit worth over EUR 10 billion.

Categories:

Algemeen

Companies:

Telefonica

Countries:

Spanje

Tags:

Network equipment, Network operations services, Wholesale, M&A buyouts & divestments

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