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

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 stock surges on $9.4 billion asset sale to American Towers

3 Min Read
MADRID (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.
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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.
Telefonica, which alongside European peers has struggled to prop up a sagging share price in the face of fierce competition, will be able to use sale proceeds to trim by 4.6 billion euros its net debt that piled up during hefty investment in networks. ....

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Telefonica Sells Mobile Phone Masts In Europe, Latin America For 7.7 Bn Euros

Spain’s Telefonica said Wednesday it will sell its telephone masts in Europe and Latin America to US-based telecom infrastructure firm American Towers for 7.7 billion euros ($9.4 billion) in cash. ....

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Telefónica Stock Soars on $9.4 Billion Sale of Phone Masts to American Tower

By
Lina Saigol
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Telefónica will reduce its debt following the $9.4 billion sale of its mobile phone masts to Boston-based American Towers.
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Shares in Telefónica soared almost 10% on Wednesday, after the Spanish telecom company struck a deal to sell its mobile phone masts in Europe and Latin America to U.S.-based telecom infrastructure operator
American Tower
for $9.4 billion in cash.
The back story. European telecom companies have stepped up the sale of their valuable tower estates in recent years, as they look to cut their debt and raise cash to invest in the costly rollout of 5G networks to keep pace with the surge of data for applications such as fixed wireless and autonomous vehicles. ....

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Vodafone to put stake in UK towers unit into Vantage Towers

Vodafone said it would put its 50% stake in Cornerstone, its UK towers joint venture with Telefonica, into its new European infrastructure unit Vantage Towers after reaching a new commercial agreement with the Spanish company. ....

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