Telefónica sells mobile phone antennas to American Towers for $ 9.4 billion By Reuters

© Reuters. FILE PHOTO: The Telefónica logo can be seen at the company’s headquarters in Bogotá

MADRID (Reuters) – Spanish telecommunications company Telefónica (NYSE 🙂 said on Wednesday that it agreed to sell its mobile phone antennas in Europe and Latin America to US telecoms infrastructure operator American Towers for 7.7 billion euros ($ 9.41 billion). ) cash. Under the terms of the agreement, Telefónica’s infrastructure unit, Telxius, will deliver the company’s mobile phone masts in Spain, Germany, Brazil, Peru, Chile and Argentina. Telefónica also said it plans to use the proceeds from the sale, which include a capital gain of about 3.5 billion euros, to reduce its net financial debt by 4.6 billion euros. The Spanish company has said for the past two years that it planned to reduce its exposure to Latin America, where profit margins have been reduced to reduce its debt. ($ 1 = 0.8187 euros)

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