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Telxius tasked with better monetising Spanish incumbent’s global portfolio of cell towers, submarine cable systems.
Telefonica on Wednesday established a new company tasked with managing and monetising its global infrastructure.
Called Telxius, it will initially take control of approximately 15,000 of the Spanish incumbent’s cell towers and its international network of 31,000 km of submarine fibre cables. Over the coming months, Telefonica plans to establish a number of companies incorporating its various network assets and integrate them into Telxius.
"Telxius will enable the management of the Telefonica group’s infrastructure on a global scale with a more specialised and focused approach, with the aim of increasing the services provided to other operators, improving the return on capital invested and allowing Telxius to participate more actively in the growth opportunities that exist in the industry, including the possibility of incorporating third party assets," said Telefonica, in a statement.
Telefonica nominated Alberto Horcajo as CEO of Telxius. Horcajo currently serves as CFO of Telefonica Brasil. Before that, he was director of Telefonica Global Services.
Wednesday’s announcement comes a month after Reuters reported that Telefonica was planning to spin-off its infrastructure with a view to floating it or finding a buyer by the middle of the year.
Sources cited by the newswire said the business would be worth €5 billion-€6 billion.
