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Telefonica signs up banks to sell undersea cable network - report

Monday 30 November 2020 | 13:52 CET | News
Telefonica has commissioned Societe Generale and Greenhill to sell the undersea cable business of its infrastructure subsidiary Telxius, according to unnamed sources cited by business daily Cinco Dias. The move confirms earlier reports, which indicated that Telefonica was seeking to raise some EUR 2 billion from the sale, around 10 times the business's EBITDA, to cut its debt burden, followed by other corporate operations involving Telxius.

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Categories: Fixed
Companies: Telefonica / Telxius
Countries: Spain / World
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