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American Tower Buys Telefonica Masts for $9.4 Billion

American Tower Buys Telefonica Masts for $9.4 Billion
By
January 13, 2021
(Bloomberg) American Tower Corp. is buying telecommunication towers in Europe and Latin America from Telefonica SA for 7.7 billion euros ($9.4 billion), signaling a new competitive threat in Europe’s fast-growing tower industry.
American Tower is paying cash to acquire around 30,700 tower sites from Telefonica unit Telxius Telecom, Telefonica said in a statement. The Spanish phone company expects to make a capital gain of around 3.5 billion euros.
U.S. private equity firm KKR & Co. owns 40% of Telxius and Spanish billionaire Amancio Ortega owns close to 10% through his investment vehicle.
The deal represents a shift in strategy for American Tower, which along with rival U.S. operator Crown Castle International Corp. had largely stayed away from Europe, where phone companies are trying to raise money from their infrastructure to cut debt and pay for costly 5G rollouts. ....

United States , Amancio Ortega , Crown Castle International Corp , Telefonica Sa , Cellnex Telecom , Bloomberg American Tower Corp , Telxius Telecom , Vodafone Group Plc , Latin America , American Tower , Crown Castle International , ஒன்றுபட்டது மாநிலங்களில் , அமன்சிவ் ஆர்டேகா , கிரீடம் கோட்டை சர்வதேச கார்ப் , டெலிஃபோனிகா ச , ப்ளூம்பெர்க் அமெரிக்கன் கோபுரம் கார்ப் , வோடபோன் குழு ப்ல் , லத்தீன் அமெரிக்கா , அமெரிக்கன் கோபுரம் , கிரீடம் கோட்டை சர்வதேச ,

Telefonica's $9.4 Billion Sale Brings American Tower to Europe

American Tower Enters Europe in $9.4 Billion Telefonica Deal
Bloomberg
1/13/2021
© dpa/picture alliance via Getty Images
A wireless mast used by Telefonica SA.
(Bloomberg) Telefonica SA’s sale of telecommunication masts to American Tower Corp. opens a new front in the race to control Europe’s fast-growing tower industry.
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American Tower is paying 7.7 billion euros ($9.4 billion) cash for about 30,700 tower sites in Spain, Germany, Brazil, Peru, Chile and Argentina held by Telefonica unit Telxius Telecom. This marks the biggest threat yet to Cellnex Telecom SA, Europe’s biggest independent tower operator.
American Tower had been evaluating dozens of deals across Europe for years but never found the right fit in terms of assets and prices, Chief Executive Officer Tom Bartlett said on a call with analysts Wednesday. With the Telefonica deal, AMT gets “premier assets” in Germany and Spain that will weave in well with t ....

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American Tower Corporation (REIT) (NYSE:AMT), Telefonica SA (NYSE:TEF) - Telefonica Offloads Europe, LATAM Tower Sites To American Tower In $9.4B Cash Deal

Spanish telecom company Telefonica S.A. (NYSE: TEF) announced Wednesday that it has entered into a tower sale agreement via its . ....

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Telefonica Unit Agrees to Sell Divisions to American Tower for EUR7.7 Billion

Telefonica Unit Agrees to Sell Divisions to American Tower for EUR7.7 Billion
morningstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from morningstar.com Daily Mail and Mail on Sunday newspapers.

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Why Shares of Telefonica Are Up Today

Shares of
Telefonica (NYSE:TEF) jumped 10% on Wednesday after the Spanish telecom company agreed to sell its European and South American towers and related assets to
American Tower (NYSE:AMT). The deal makes sense for both parties, and as of this writing shares of American Tower are up slightly as well.
So what
On Wednesday Telefonica said its Telxius Telecom unit has agreed to sell towers in Spain, Germany, Brazil, Peru, Chile, and Argentina for 7.7 billion euros, or about $9.41 billion in cash. American Tower is buying 30,722 tower sites, with Telefonica cellular operators maintaining current lease agreements to continue to transmit from the towers. ....

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