Europe s telecom giants have mainly balked at the sale of a controlling stake in their towers, the site infrastructure that hosts their mobile network equipment. Vodafone looks determined to retain majority ownership of its Vantage Towers subsidiary. Deutsche Telekom is the sole parent of its Funkturm equivalent. Orange CEO Stephane Richard recently told the Financial Times that operators could do something smarter than just sell towers to Cellnex, a rising power with lofty ambitions.
All of which makes today s update from Telefónica stand out like a 5G mast on a low-rise street. Following the example set by smaller service providers such as Iliad and Three, the Spanish incumbent is to sell the entirety of its controlling stake in Telxius to American Tower Corporation (ATC). For a cash fee of 7.7 billion (US$9.4 billion), the US infrastructure specialist bags 50.01% of a company with 30,722 towers in Spain, Germany and four Latin American markets.
Telefónica announces sale of Telxius telecommunications towers division in Europe and in Latin America news.europawire.eu - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from news.europawire.eu Daily Mail and Mail on Sunday newspapers.