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UPDATE 2-Telefonica stock surges on $9.4 bln asset sale to American Towers


Deal will shave 4.6 bln euros off net debt
Demand for towers rises in low-return world (Recasts with share price reaction, detail)
MADRID, Jan 13 (Reuters) - Shares in Telefonica soared on Wednesday after the Spanish group said it had agreed to sell its mobile phone masts in Europe and Latin America to American Towers for 7.7 billion euros ($9.41 billion) in cash.
Telefonica’s Telxius division, partly owned by investment fund KKR and Zara owner Amancio Ortega’s investment vehicle, will hand over more than 30,000 mobile phone masts in Spain, Germany, Brazil, Peru, Chile and Argentina.
U.S.-based American Towers will then lease the phone masts back to Telefonica, leaving the Spanish group only owning tower assets in Britain. ....

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Telefonica sells mobile phone masts to American Towers for $9.4 bln


By Reuters Staff
1 Min Read
MADRID, Jan 13 (Reuters) - Spanish telecom company Telefonica said on Wednesday it agreed to sell its mobile phone masts in Europe and Latin America to U.S.-based telecom infrastructure operator American Towers for 7.7 billion euros ($9.41 billion) in cash.
Under the terms of the deal, Telefonica’s infrastructure unit Telxius will hand over the company’s mobile phone masts in Spain, Germany, Brazil, Peru, Chile and Argentina.
Telefonica also said it plans to use the proceeds of the sale, which include a capital gain of about 3.5 billion euros, to reduce its net financial debt by 4.6 billion euros. ....

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Telefonica tower subsidiary sold in multi-billion-dollar deal


4859
Yet another tower deal has been announced – one of the biggest yet, comprising sites in Brazil, Chile, Peru and Argentina along with Germany and Spain.
American Tower Corporation has announced that it has entered into definitive agreements under which it will acquire multinational telecommunications company Telefonica’s subsidiary Telxius Towers, a global telecommunications infrastructure company.
The deal comprises approximately 30,722 existing communications sites in Brazil, Chile, Peru, Argentina, Germany and Spain. The total consideration for the transaction is said to be approximately €7.7 billion (or $9.4 billion).
American Tower says it expects to spend approximately $500 million to construct a committed pipeline of approximately 3,300 new sites in Germany and Brazil through 2025. ....

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