0
General

Telefonica sells further 15.2% of Telxius to KKR for EUR 484.5 mln

Tuesday 14 November 2017 | 11:40 CET | News

Telefonica has announced that private equity firm KKR exercised the previously agreed call option over 38 million shares of its infrastructure subsidiary Telxius (representing 15.2 percent of its share capital) for EUR 484.5 million. As a result of this operation and together with the 24.8 percent stake it acquired last month, KKR will hold 40 percent of Telxius, with Telefonica retaining control.

In a statement to markets watchdog CNMV, Telefonica said the sale was expected to close by the end of this year. It added that the transaction has no impact on its consolidated results as it consists of the sale of a minority interest and that it would use the funds to reduce debt "in a scenario of increasing cash generation."

Telxius was created just over a year ago and currently owns and currently operates a portfolio of nearly 16,000 telecommunications towers in five countries. It also manages an international network with approximately 65,000 kilometers of submarine fibre optic cables, including around 31,000 kilometers owned by Telxius.


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Categories: General
Companies: Telefonica / Telxius
Countries: Spain
::: add a comment

Add comment

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Related

Telxius buys 304 towers in Buenos Aires area

Published 27 Oct 2017 11:28 CET | Argentina
Telefonica's infrastructure subsidiary Telxius has confirmed the acquisition of 304 towers from Telefonica Argentina for an ...

Telxius revenues up 8% to EUR 177 mln in Q3

Published 26 Oct 2017 11:37 CET | Spain
Telefonica's infrastructure subsidiary Telxius reported third-quarter revenues up 7.5 percent from a year earlier to EUR 182 ...

Telefonica completes sale of 24.8% of Telxius to KKR for EUR 790.5 mln

Published 25 Oct 2017 08:35 CET | Spain
Telefonica has completed the transfer of 24.8 percent of the shares of its infrastructure subsidiary Telxius to private equity ...

Microsoft, Facebook, Telxius complete Marea subsea cable

Published 25 Sep 2017 09:56 CET | United States
Microsoft has announced the completion of the new Marea submarine cable across the Atlantic Ocean rolled out as part of a joint ...

Telxius revenues up 11% to EUR 182 mln in Q2

Published 27 Jul 2017 12:15 CET | Spain
Telefonica's infrastructure subsidiary Telxius reported a year on year organic revenue rise of 11.4 percent to EUR 182 million in ...

Telxius taps Infinera to offer on-demand subsea capacity

Published 11 Jul 2017 11:54 CET | North America
Telxius, a telecommunications infrastructure company created by Telefonica, is using Infinera's Instant Bandwidth software, to ...

Telefonica sells up to 40% of Telxius to KKR for EUR 1.3 bln

Published 21 Feb 2017 09:40 CET | Spain
Telefonica has confirmed the sale of up to 40 percent of its infrastructure subsidiary Telxius to private equity firm KKR for EUR ...