Telefonica and American Towers

Telefonica Sells Telxius Towers To American Tower For €7.7 Bn In Cash. Is This A Threat For Cellnex?

Renta 4 | Telefónica announced today that it has signed an agreement with American Tower to sell Telxius’ tower business in Europe (Spain, Germany) and LatAm (Brazil, Peru, Chile and Argentina). The price of the deal is 7.7 billion euros, payable in cash. It includes the sale of some 30,722 sites to be carried out in two separate operations. Although American Tower still has little exposure in Europe (some 30,000 towers after the Telxius purchase), it represents the main threat to the leadership position of another Spanish company, Cellnex, with over 103.000 sites