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Spanish telecom company Telefonica S.A. (NYSE: TEF) announced Wednesday that it has entered into a tower sale agreement via its subsidiary Telxius Telecom S.A., with broadcast communications infrastructure operator American Tower Corp (NYSE: AMT). The deal is valued at €7.7 billion (roughly $9.38 billion), payable entirely in cash. What Happened: Telefonica has agreed to offload its telecommunication towers in Spain, Germany, Brazil, Peru,.