News
Telco is aiming to list or sell its mobile masts and data centre infrastructure arm in the first half of this year.
Telefonica has started work on the spin-off of its Spanish infrastructure business and is looking to float it or find a buyer by the middle of the year, it emerged this week.
The Spanish incumbent is keen to move quickly and will formally register the new business "very shortly," an unnamed source told Reuters.
The spun-off business would include 11,500 mobile masts, data centres and some domestic undersea cables, the newswire explained. It could be valued at €5 billion-€6 billion, its source said.
However, Telefonica could seek to add certain overseas assets, such as mobile masts in Brazil and Germany, thereby creating an international infrastructure business with a value in excess of €10 billion.
According to the report, Telefonica will either list the business or run a dual-track process, the latter being a way to prepare for either a sale or flotation with the final decision being made late in the day.
Reuters said Telefonica declined to comment on the matter.
