Tuesday, February 21, 2017

Telefónica agrees to sell 40% of Telxius to KKR investment fund for € 1.275 bn

The company had been negotiating with several funds, after in September 2016 it gave up its intention to take to the Stock Exchange the infrastructure subsidiary. In case the transaction were approved, Telefónica would retain control of the company and by the end of the year, KKR could exercise a call option, or Telefónica, a put option.

A year ago, Telefónica created Telxius, which would manage almost 16,000 telecommunications towers in five countries - Germany, Spain, Brazil, Peru and Chile - 65,000 kilometers of submarine fiber optics (31,000 of them owned by the company) and future projects such as cable BRUSA, an 11,000 kms laying to join Brazil, Puerto Rico and the United States as from 2018, and the MAREA, between the United States and Europe in collaboration with Google and Facebook.

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