Telefonica wants to realize the stock Telxius debut in September – TeleSemana

image: Dabarti CGI / Shutterstock

 
 
 
 
 
 

After the market impact that triggered the departure of Britain from the European Union, Telefonica has decided to revive public offering (IPO) of Telxius, the company created to manage their infrastructure assets. The operator asked banks as underwriters intermediarán BBVA and CaixaBank- to update presentations for investors with additional data, such as second-quarter earnings.

Investor Meetings begin next week, with a view to launch the offer on the Madrid Stock Exchange in late September, revealed sources close to the negotiations told Bloomberg. The IPO would involve 40 percent of Telxius and, according to the rumors, could raise 1,500 million euros (1.671 million dollars), equivalent to an equity value of up to 3,500 million euros (3,900 million dollars).

Telefonica plans to use the money to reduce its debt, which reached 52,600 million euros (58,620 million dollars) in June. Telxius already has subsidiaries belonging to Movistar in Chile, Peru and Brazil once active, among other countries. Its portfolio includes more than 65,000 kilometers of undersea cables propios- 31,000 and 16,000 towers, asset turnover of around 680 million euros (767.5 million dollars) in 2015.

 
 
 
 

Labels: InfraestructuraIPOTelefónicaTelxius

 
 

 - Andrew Krom, Deputy Editor in TeleSemana.com

Andrew Krom graduated from the Journalism Tecnicatura TEA (Buenos Aires). During his career he worked in several online media in the technology sector and telecommunications. His articles have been replicated by major print media in countries such as Argentina, Bolivia, Nicaragua, Panama, Venezuela and regional publications.