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Telefónica will reduce its debt following the $9.4 billion sale of its mobile phone masts to Boston-based American Towers. Getty Images
Shares in Telefónica soared almost 10% on Wednesday, after the Spanish telecom company struck a deal to sell its mobile phone masts in Europe and Latin America to U.S.-based telecom infrastructure operator
American Tower for $9.4 billion in cash.
The back story. European telecom companies have stepped up the sale of their valuable tower estates in recent years, as they look to cut their debt and raise cash to invest in the costly rollout of 5G networks to keep pace with the surge of data for applications such as fixed wireless and autonomous vehicles.
Intercontinental Exchangeâs Cryptocurrency Venture to Go Public Through a SPAC
ICEâs Bakkt crypto venture plans to roll out an app for trading and making payments with digital assets The price of bitcoin is skyrocketing, driving a rally of momentum trading that s pushed its value higher than it s ever been before. WSJ explains how bitcoin trading works, and why the volatile digital currency is reaching all-time highs. Illustration: Jacob Reynolds/WSJ By Jan. 11, 2021 8:00 am ET Intercontinental Exchange Inc., or ICE, will take its cryptocurrency venture public by merging it with a special-purpose acquisition company, a deal that will further its goal of launching a consumer app for trading and making payments with digital assets.
Billionaire Ron Burkle buys Michael Jacksonâs Neverland Ranch Last Updated: Dec. 24, 2020 at 9:16 p.m. ET First Published: Dec. 24, 2020 at 8:03 p.m. ET By Property reportedly sold for $22 million, a steep discount from original asking price
This Dec. 17, 2004, file photo shows the rear entrance to Michael Jackson s Neverland Ranch home in Santa Ynez, Calif. Associated Press Email icon Resize icon
LOS ANGELES â Michael Jacksonâs Neverland Ranch in California has found a new owner in billionaire businessman Ron Burkle.
Burkle views the 2,700-acre property in Los Olivos, near Santa Barbara, as a land banking opportunity, his spokesman said Thursday in an email.