Telefónica is reportedly considering tower spin-offs or sales, following in the steps of moves earlier this year by Telecom Italia and América Móvil. Last month, CFO Ángel Vilá said his company would consider listing its Mexican business, which faces increasing competition from AT&T.
Telefónica (BME:TEF) has declined comment on a report that it is considering a spin-off or sale of its towers in Spain, Germany and Latin America.
The Spanish incumbent has mandated TAP Advisors, reports Bloomberg.
The tower specialist advisory firm could not be reached by the press deadline.
In November, Telefónica CFO Ángel Vilá said the company would consider listing its Mexican business, which faces increasing competition from AT&T.
Earlier this year, Telecom Italia listed 40% of its towerco spin-off, Inwit, and said it would be open to an approach. América Móvil is also set to list its own tower spin-off, Telesites, on 21 December, prompting speculation that the asset could attract the interest of American Tower (NYSE:AMT) or SBA (NASDAQ:SBAC).
Today’s report named Spanish towerco Cellnex (BME:CLNX) –