Telefónica and Pontegadea are increasing their stake in Telxius Telecom, a global telecommunications infrastructure company, by acquiring a 40% stake in Telxius Telecom, previously held by KKR.
With this transaction, Telefónica will increase its stake to 70% and Pontegadea will increase its stake to 30%. The acquisition is carried out for an estimated amount of EUR 215.7 million, pending, among others, the corresponding adjustments derived from the sale of Telxius’ tower business to American Tower in 2021.
Telxius Telecom has one of the largest subsea cable networks in the world, extending 94,000 kilometres via leading subsea systems such as Marea, Brusa and Mistral, as well as SAm-1, the system that connects the United States with Latin America.
Telxius Telecom provides direct connectivity to the internet with a coverage of 93 points of presence and 27 landing stations in 23 countries. In addition, Telxius Telecom offers an extensive range of capacity services, colocation and security services.
Telefónica will sell a 9.99% equity stake in Telxius, its infrastructure arm, to Pontegadea for a total of 378.8 million euros. This transaction represents a price of 15.2 euro per share of Telxius. Telefónica said the deal incorporates a long-term partner in a holding company that controls its infrastructure arm. The sale has been structured via Telefónica’s subsidiary, Pontel Participaciones, which owns 60% of Telxius’ capital stock….